Cracking Down: Corporate Frauds Under Investigation

In the past five financial years, the Corporate Affairs Ministry has investigated 462 companies for suspected fraud. Investigations are conducted by the Serious Fraud Investigation Office (SFIO) and regional directors. Despite concerns, no verified increase in fraud cases has been observed, says Minister Harsh Malhotra.

In a sweeping crackdown, 462 companies have fallen under the scrutiny of the Ministry of Corporate Affairs over suspected fraudulent activities in the last five financial years, official data reveals.

Investigations, as authorized by the Companies Act, 2013, are conducted by the Serious Fraud Investigation Office (SFIO) and regional directors. The Ministry shared these figures with Lok Sabha on Monday.

Despite the substantial numbers, Minister of State for Corporate Affairs Harsh Malhotra affirmed that no verified increase in corporate fraud cases has been detected over the past five years.