(a) the number of cases under investigation by the Serious Fraud
Investigation Office (SFIO);
(b) whether the Government is satisfied with the pace of disposal
of the cases by the SFIO;
(c) if so, the details thereof;
(d) whether the Government proposes to improve the functioning of
SFIO including legislative recognition to it; and
(e) if so, the steps being taken by the Government in this regard?
THE MINISTER OF CORPORATE AFFAIRS (DR. M. VEERAPP MOILY)
(a) to (e) A Statement is laid on the Table of the House.
Statement referred to in Answer to parts (a) to (e) of Lok Sabha Starred
Question No. 162 for answer on 11.8.2011
Presently, 12 cases, details of which are enclosed, are under
investigation by Serious Fraud Investigation Office (SFIO).
2. The Vepa Kamesam Committee was constituted by the Ministry of
Corporate Affairs in February, 2006 to consider measures to strengthen
the SFIO and streamline its functioning with a view to make it more effective.
Keeping in view the recommendations of the Committee, it is proposed to give
statutory recognition to SFIO. In the new Companies Bill, powers such as
treating its investigation report as a report filed by a Police Officer;
giving SFIO power to issue letter of requests (letter Rogatory) in cases
involving companies having business / interests outside the country are
some of the provisions proposed to be included. Besides the legislative
measures, 58 additional posts have been created and it has been decided to
set up regional offices at New Delhi, Mumbai, Hyderabad, Chennai, Kolkata
and Ahmedabad to increase the reach of office and for better monitoring of
prosecution cases in progress at various places.