TaxTMI 
TaxTMI 
TaxTMI 
Corporate Frauds
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....orporate Frauds <br>News and Press Release<br>Dated:- 27-2-2016<br><BR>From 2012-13 up to 31-01-2016 the Ministry has ordered investigations through Serious Fraud Investigation Office (SFIO) of this M....
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....inistry into the affairs of 258 companies allegedly indulging in fraudulent/ illegal activities. Of these, 116 investigations have been completed and reports submitted to the Ministry, while in 08 cas....
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....es, investigations have been stayed by the Courts. Further, out of the completed investigations, Ministry has ordered filing of prosecutions in 102 cases, against companies/ directors/ officers in def....
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....ault on account of various non-compliances/ offences committed under the Companies Act, 1956 and other Statutes, as recommended in the investigation reports. Steps taken by the Ministry include: * ....
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....the term "Fraud" has been defined in the Companies Act, 2013; * Stricter norms of Corporate Governance and their implementation in the Companies Act, 2013; * Statutory status to the Serious Fraud ....
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....Investigation Office (SFIO); * Increasing application of technology for early detection of frauds through data mining and Forensic Audit, etc. This was stated by Shri Arun Jaitley, Minister of Corp....
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....orate Affairs in written reply to a question in the Lok Sabha.<BR> News - Press release - PIB....