Cases under Serious Fraud Investigation Office
Serious Fraud Investigation Office (SFIO) has handled 70 cases since its creation. Company-wise list of these 70 cases along with their status is given below. In reply to an unstarred question in the Lok Sabha today, Minister of Corporate Affairs, Shri Salman Khurshid said that generally, the cases referred to the SFIO for investigation are characterized by having substantial involvement of public interest either in terms of monetary misappropriation or in terms of persons affected, and are complex and having inter-departmental and multi-disciplinary ramifications. However, the exact amount of funds in each investigation has not been quantified.
Investigation cases handled by SFIO since its inception and their present status:
1. Daewoo Motors India Ltd.
Complete, prosecutions filed
2. DSQ Software Ltd
Complete, prosecutions filed
3. Design Auto Systems Ltd.
Complete, prosecutions filed
4. Bonanza Biotech Ltd.
Complete, prosecutions filed
5. Vatsa Corporation Ltd.
Complete, prosecutions filed
6. Triumph International Finance India Ltd
Complete, prosecutions filed
7. N H Securities Ltd
Complete, prosecutions filed
8. K N P Securities Pvt Ltd
Complete, prosecutions filed
9. V N Parekh Securities Pvt Ltd
Complete, prosecutions filed
10. Panther Fincap and Management Services Ltd.
Complete, prosecutions filed
11. Pather Investrade Ltd
Complete, prosecutions filed
12. Panther Industrial Products Ltd.
Complete, prosecutions filed
13. Triumph Securities Pvt Ltd.
Complete, prosecutions filed
14. Luminant Investrade Pvt Ltd.
Complete, prosecutions filed
15 Classic Credit Ltd
Complete, prosecutions filed
16. Saimangal Investrade Ltd.
Complete, prosecutions filed
17. Classic Shares and Stock Broking Services Ltd
Complete, prosecutions filed
18 Goldfish Computers Pvt Ltd.
Complete, prosecutions filed
19. Nakshatra Software Pvt Ltd.
Complete, prosecutions filed
20. Chitrakoot Computers Pvt Ltd.
Complete, prosecutions filed
21. Manmandir Estate Development Pvt Ltd.
Complete, prosecutions filed
22. Mardia Chemicals Ltd.
Complete, prosecutions filed
23. Soundcraft Industries Ltd
Complete, prosecutions filed
24. Adam Comsof Ltd.
Complete, prosecutions filed
25. Kolar Biotech Ltd
Complete, prosecutions filed
26. Usha India Ltd
Complete, prosecutions filed
27. Malvi ka Steel Ltd
Complete, prosecutions filed
28. Koshika Telecom Ltd
Complete, prosecutions filed
29. Information Tech of India Ltd.
Under progress
30 Shonkh Technologies International Limited
Complete, prosecution filed
31 Shonkh Technologies Ltd
Complete, prosecution filed
32 Morepan Laboratories Ltd
Complete, prosecution filed
33 JVG Industries Limited
Report submitted, prosecutions yet to be filed
34 JG Publication Limited
Report submitted, prosecutions yet to be filed
35 JVG Hotels Limited
Report submitted, prosecutions yet to be filed
36 JVG Steels Limited
Report submitted, prosecutions yet to be filed
37 JVG Techno India Limited
Report submitted, prosecutions yet to be filed
38 JVG Holdings Limited
Report submitted, prosecutions yet to be filed
39 JVG Farm Fresh Limited
Report submitted, prosecutions yet to be filed
40 JVG Housing Finance Ltd
Report submitted, prosecutions yet to be filed
41 JVG Overseas Limited
Report submitted, prosecutions yet to be filed
42 JVG Finance Ltd
Under progress
43 JVG Leasing Limited
Report submitted, prosecutions yet to be filed
44 JVG Securities Ltd
Report submitted, prosecutions yet to be filed
45 JVG Departmental Stores Ltd.
Report submitted, prosecutions yet to be filed
46 SHCIL Services Ltd
Complete, instructions issued to file prosecutions
47 Systems America (India) Ltd
Under progress
48 Krishi Export Commercial Corporation Ltd
Report submitted, prosecutions yet to be filed
49 Leafin India Ltd
Report submitted, prosecutions yet to be filed
50 AVI Telecom Ltd
Under progress
51 AVI Petroleum Ltd
Under progress
52 AVI Packaging (India) Ltd.
Under progress
53 A&R Oil Mills Ltd.
Under progress
54 Rishi Spinners Ltd.
Under progress
55 Rishi Financial Services Ltd.
Under progress
56 Rishi Oil & Fats Ltd (in Liqn)
Under progress
57 AVI Shoes Ltd (in Liqn)
Under progress
58 Zenet Software Ltd
Under progress
59 Sugandh Estate & Investments Pvt Ltd.
Under progress
60 Amathi Investments Ltd.
Under progress
61 Welvet Financial Advisors Pvt Ltd.
Under progress
62 PSG Developers & Engineers Ltd.
Under progress
63 Nicco UCO Alliance Credit Ltd.
Under progress
64 Kuber Mutual Benefits Ltd
Under progress
65 Elder Pharmaceuticals Ltd
Report submitted, prosecutions yet to be filed
66 Satyam Computer Services Ltd.
Report submitted, instructions issued for filing prosecutions on pure company law violations.
67 Megacity (Bangalore) Developers & Bldgs Ltd.
Under progress
68 AVI Industries Ltd (in Liqn)
Under progress
69 Sesa Goa Ltd
Under progress
70 Sesa Industries Ltd.
Under progress
Shri Salman Khurshid informed the House that a sum of Rs. 17,52,42,000/- has been spent to run SFIO since its creation till October, 2009.
Serious Fraud Investigation Office (SFIO) has handled 70 cases since its creation. Company-wise list of these 70 cases along with their status is given below. In reply to an unstarred question in the Lok Sabha today, Minister of Corporate Affairs, Shri Salman Khurshid said that generally, the cases referred to the SFIO for investigation are characterized by having substantial involvement of public interest either in terms of monetary misappropriation or in terms of persons affected, and are complex and having inter-departmental and multi-disciplinary ramifications. However, the exact amount of funds in each investigation has not been quantified.
Investigation cases handled by SFIO since its inception and their present status:
1. Daewoo Motors India Ltd.
Complete, prosecutions filed
2. DSQ Software Ltd
Complete, prosecutions filed
3. Design Auto Systems Ltd.
Complete, prosecutions filed
4. Bonanza Biotech Ltd.
Complete, prosecutions filed
5. Vatsa Corporation Ltd.
Complete, prosecutions filed
6. Triumph International Finance India Ltd
Complete, prosecutions filed
7. N H Securities Ltd
Complete, prosecutions filed
8. K N P Securities Pvt Ltd
Complete, prosecutions filed
9. V N Parekh Securities Pvt Ltd
Complete, prosecutions filed
10. Panther Fincap and Management Services Ltd.
Complete, prosecutions filed
11. Pather Investrade Ltd
Complete, prosecutions filed
12. Panther Industrial Products Ltd.
Complete, prosecutions filed
13. Triumph Securities Pvt Ltd.
Complete, prosecutions filed
14. Luminant Investrade Pvt Ltd.
Complete, prosecutions filed
15 Classic Credit Ltd
Complete, prosecutions filed
16. Saimangal Investrade Ltd.
Complete, prosecutions filed
17. Classic Shares and Stock Broking Services Ltd
Complete, prosecutions filed
18 Goldfish Computers Pvt Ltd.
Complete, prosecutions filed
19. Nakshatra Software Pvt Ltd.
Complete, prosecutions filed
20. Chitrakoot Computers Pvt Ltd.
Complete, prosecutions filed
21. Manmandir Estate Development Pvt Ltd.
Complete, prosecutions filed
22. Mardia Chemicals Ltd.
Complete, prosecutions filed
23. Soundcraft Industries Ltd
Complete, prosecutions filed
24. Adam Comsof Ltd.
Complete, prosecutions filed
25. Kolar Biotech Ltd
Complete, prosecutions filed
26. Usha India Ltd
Complete, prosecutions filed
27. Malvi ka Steel Ltd
Complete, prosecutions filed
28. Koshika Telecom Ltd
Complete, prosecutions filed
29. Information Tech of India Ltd.
Under progress
30 Shonkh Technologies International Limited
Complete, prosecution filed
31 Shonkh Technologies Ltd
Complete, prosecution filed
32 Morepan Laboratories Ltd
Complete, prosecution filed
33 JVG Industries Limited
Report submitted, prosecutions yet to be filed
34 JG Publication Limited
Report submitted, prosecutions yet to be filed
35 JVG Hotels Limited
Report submitted, prosecutions yet to be filed
36 JVG Steels Limited
Report submitted, prosecutions yet to be filed
37 JVG Techno India Limited
Report submitted, prosecutions yet to be filed
38 JVG Holdings Limited
Report submitted, prosecutions yet to be filed
39 JVG Farm Fresh Limited
Report submitted, prosecutions yet to be filed
40 JVG Housing Finance Ltd
Report submitted, prosecutions yet to be filed
41 JVG Overseas Limited
Report submitted, prosecutions yet to be filed
42 JVG Finance Ltd
Under progress
43 JVG Leasing Limited
Report submitted, prosecutions yet to be filed
44 JVG Securities Ltd
Report submitted, prosecutions yet to be filed
45 JVG Departmental Stores Ltd.
Report submitted, prosecutions yet to be filed
46 SHCIL Services Ltd
Complete, instructions issued to file prosecutions
47 Systems America (India) Ltd
Under progress
48 Krishi Export Commercial Corporation Ltd
Report submitted, prosecutions yet to be filed
49 Leafin India Ltd
Report submitted, prosecutions yet to be filed
50 AVI Telecom Ltd
Under progress
51 AVI Petroleum Ltd
Under progress
52 AVI Packaging (India) Ltd.
Under progress
53 A&R Oil Mills Ltd.
Under progress
54 Rishi Spinners Ltd.
Under progress
55 Rishi Financial Services Ltd.
Under progress
56 Rishi Oil & Fats Ltd (in Liqn)
Under progress
57 AVI Shoes Ltd (in Liqn)
Under progress
58 Zenet Software Ltd
Under progress
59 Sugandh Estate & Investments Pvt Ltd.
Under progress
60 Amathi Investments Ltd.
Under progress
61 Welvet Financial Advisors Pvt Ltd.
Under progress
62 PSG Developers & Engineers Ltd.
Under progress
63 Nicco UCO Alliance Credit Ltd.
Under progress
64 Kuber Mutual Benefits Ltd
Under progress
65 Elder Pharmaceuticals Ltd
Report submitted, prosecutions yet to be filed
66 Satyam Computer Services Ltd.
Report submitted, instructions issued for filing prosecutions on pure company law violations.
67 Megacity (Bangalore) Developers & Bldgs Ltd.
Under progress
68 AVI Industries Ltd (in Liqn)
Under progress
69 Sesa Goa Ltd
Under progress
70 Sesa Industries Ltd.
Under progress
Shri Salman Khurshid informed the House that a sum of Rs. 17,52,42,000/- has been spent to run SFIO since its creation till October, 2009.
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