Press Information Bureau

Government of India

Ministry of Corporate Affairs

19-March-2012 17:27 IST

Corporate Houses Found Involved in Various Scams During the Last Three Years

Corporate Houses found to have prima facie violated provisions of the Indian Penal Code can be regarded as being ‘involved in scams’. As per investigation reports received in the Ministry, 21 Companies fall in this category. List of such companies against whom prosecutions have been sanctioned under the provisions of Indian Penal Code is placed at Annexure ‘A’.

During the last three years, no such case came to the notice of this Ministry.

This information was given by the the Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh in Rajya Sabha today in reply to a written question regarding the details of the Corporate houses found involved in various scams during the last three years ; what action has been taken against each of them; and whether there any nexus exists amongst politicians, bureaucrats and corporate houses and if so, how Government proposes to deal with the situation.

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Corporate involvement in criminal offences: prosecutions sanctioned under Indian Penal Code against several companies following ministry investigations. Investigation reports received by the Ministry indicate that companies were prima facie violators of the Indian Penal Code and prosecutions have been sanctioned; a list of such companies is placed at Annexure A and reported in reply to a parliamentary question.