(a) the number of complaints/ cases of corporate frauds during the last three years
and the current year;
(b) the details of the companies against whom the Government has taken action;
(c) whether the Government has set up an Investor Education and Protection Fund
in the country; and
(d) if so, the details thereof?
MINISTER OF THE STATE IN THE MINISTRY OF CORPORATE AFFAIRS (SHRI SALMAN KHURSHID)
(a) The complaints against companies regarding fraud, financial irregularities etc. are
received from various stakeholders. Based on findings of scrutiny of the complaints and
involvement of public interest, investigation by Serious Fraud Investigation Office (SFIO)
has been ordered in respect of thirty seven companies during last three years and five
companies in the current year involving serious Corporate Frauds.
(b) Serious Fraud Investigation Office has filed prosecutions against the following companies
during last three years and current year:
1. M/s. Shonkh Technologies International Ltd.
2. M/s. Shonkh Technologies Ltd.
3. M/s. Morepan Laboratories Ltd.
4. M/s. Satyam Computer Services Ltd.
(c)& (d) Investor Education and Protection Fund (IEPF) has been set-up under Section 205C of the
Companies Act, 1956 by way of the Companies (Amendment) Act, 1999. As per the Act, the following
amounts, which have remained unclaimed and unpaid for a period of seven years from the date they
a. amounts in the Unpaid dividend accounts of companies;
b. the application moneys received by companies for allotment of any securities and due
for refund;
c. matured deposits with companies;
d. matured debentures with companies;
e. the interest accrued on the amounts referred to in clauses (a) to (d) above;
f. grants and donations given to the Fund by the Central Government, State Governments,
companies or any other institutions for the purposes of the Fund; and
g. the interest or other income received out of the investments made from the Fund;
The Fund is utilized for promotion of investors’ awareness and protection of the interest
of investors.