Question : Delay in Investigations by SFIO

(a) whether the Government has ordered for investigation into the affairs of any companies through the Serious Fraud Investigation Office (SFIO);

(b) if so, the details thereof and their current status;

(c) the effective measures taken by the Government to expedite the investigation process and to avoid any delay in providing justice to the people who lost their savings through these companies; and

(d) the total value of amount restored and given back to the affected customers in the last three years, year-wise?

MINISTER OF STATE FOR LAW AND JUSTICE (SHRI P. P. CHAUDHARY)
AND CORPORATE AFFAIRS

(a) & (b): During the period since establishment of the Serious Fraud Investigation Office (SFIO), the Government has ordered investigation into the affairs of 661 companies and assigned the same to SFIO. Till date, SFIO has completed investigation involving 430 companies. The details of cases assigned and investigated by SFIO are enclosed, at Annexure-I.

(c): i) Capacity building in SFIO through induction of technology for expeditious processing of data.

ii) Initiation of the process of hiring skilled manpower through new Recruitment Rules.

iii) Engagement of professionals in areas where skill sets are not available within the Government.

iv) Effective coordination with other investigation agencies.

(d): No amount has been recovered and given back to the affected customers during the last three years.

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