(a) whether the lack of honest corporate governance has emerged as a matter of grave concern and if so, the details thereof;
(b) the details of various corporate scams and scandals during the last three years and the action taken by the Government against each of them; and
(c) whether any nexus has been found exists among politicians, bureaucrats and corporate houses and if so, the steps taken by the Government to deal with such situation?
THE MINISTER OF STATE IN THE (SHRI ARJUN RAM MEGHWAL)
MINISTRY OF CORPORATE AFFAIRS
(a) to (c) : During the last three years the Ministry has ordered investigations, through Serious Fraud Investigation Office into the affairs of 338 companies on account of alleged frauds. The details are as under:
Year No. of companies where investigation has been ordered No. of prosecutions filed by SFIO
2013-14 83 99
2014-15 71 56
2015-16 184 53
Total 338 208
Some instances of nexus among politicians, bureaucrats and corporate houses have been reported. The existing statutes have adequate provisions to impart appropriate justice in such cases.
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