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SFIO lens on 81 cos for fraud in 10 months of FY18

Press Trust of India  |  New Delhi 

The Serious Investigation Office (SFIO) has initiated probes into 81 firms in the first ten months of 2017-18 for allegedly indulging in activities, P P Chaudhary said today.

The count of such companies being referred to the white collar crime probe agency stood at 111 in 2016-17 and 184 in 2015-16, the said in written reply to Lok Sabha.

The investigation has been initiated by the SFIO, which comes under the corporate affairs ministry, for alleged involvement in fraud, he added.

Separately, Shiv Pratap Shukla said that CBI has registered and investigated 133 cases in the current fiscal (till January) against various ponzi companies for and scams.

The move comes after the government received various complaints regarding cheating of small investors, particularly by the companies involved in ponzi, chit fund and multi-level marketing activities in different states of the country.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, February 09 2018. 18:10 IST