The central government is probing grievances of financial scams against 154 companies, which also includes those connected with Saradha Group and Rose Valley Group, Parliament was informed today by Sachin Pilot.
In a written reply to Rajya Sabha, Sachin Pilot said ” We received complaints against 154 companies/organizations during the last 3 years,”
Pilot stated his ministry has ordered probe of the balance sheets and various other files in these cases.
“Some cases have been referred to the Economic Offences Wing of the concerned state government for additional examination,” he added.
As per the list provided by the Minister, the complaints also include against 10 Saradha Group entities such as Saradha Realty, Saradha Agro Development, Saradha Exports and Saradha Garden Resorts & Hotel.
Besides, the list includes names of 14 entities related to Rose Valley Group consisting of Rose Valley Industries, Rose Valley Marketing and Rose Valley Hotels and Entertainment.
Vaishnavi Corporate Communication, Speak Asia, Reebok India, Alchemist Infra are among the various other business entities, against whom grievances were also received and they are also under probe because of their names in the list.
Questions were also raised, like what steps are being initiated by the government to detect corporate wrongdoings.
Pilot said “the ministry is in the procedure of developing an early warning system to recognize cases of frauds or possible scams at the earliest.
“Pilot said, the testing of the early warning system is anticipated to be finished during 2013-14,”
In addition, Pilot said, numerous measures had been embarked on to safeguard the investor’ interests with programs on awareness and education.
Some of these steps include issue of multi-lingual print media ads from time to time to warn the investors about fraudulent investment schemes, MCA-21 site for lodging complaints and for tracking their status and a system of sending out SMSes cautioning investors.
If you have any issue with your present company, you may directly register your complaint with Ministry Of Corporate Affairs by this link : http://goo.gl/xEwpSp