125 embezzlement cases by cos reported in last 4 years

55 such cases reported in the current financial year till June: Pilot

A total of 125 cases of embezzlement by companies in the country have come into light since 2009, Parliament was informed today.

Corporate Affairs Minister Sachin Pilot in a written reply to Rajya Sabha said 55 such cases have been reported in the current financial year till June.

In the past fiscal, 45 incidents of embezzlement by companies had been reported, 13 in 2011-12 and six each in 2010-11 and 2009-10.

However, he did not give any information related to total amount embezzled in theses cases as also the names of the companies.

The new Companies Bill 2012 provides for mandatory jail time and hefty fines, among others, for offenders of embezzlement.