(a) whether Seamen’s Provident Fund (SPF) has incurred a financial loss of almost Rs. 95 crore;
(b) if so, the details and the reasons thereof;
(c) whether any inquiry has been conducted in this regard;
(d) if so, the details of the findings;
(e) whether any action has been initiated against those found guilty; and
(f) if so, the details thereof?
MINISTER OF SHIPPING, ROAD TRANSPORT AND HIGHWAYS (SHRI T.R. BAALU)
(a) to (f): Yes, Sir. The loss of Seamen’s Provident Fund (SPF) to the tune of Rs. 92.78 crores was noticed in May, 2002 due to non-delivery of physical securities by Home Trade as happened in cooperative banks securities scam. Immediately after this fraud came to notice on 4.5.2002, it was quickly looked into. On 10.5.2002, a complaint was lodged with the CBI. The CBI has completed its inquiry on 10.11.2003 and charge sheet has been filed in the Court against 15 persons involved.