Cases of Fraud Before Company Law Board
Lok Sabha
Minister of Corporate Affairs, Shri
Prem Chand Gupta informed the Lok
Sabha today in written reply to a question that
investigation into affairs of 32 companies has been ordered by the Company
Law Board (CLB) for alleged fraud after being satisfied that such investigation
was merited, during the last three years and as on October 31, 2007.
The Minister further
informed that consequent to orders passed by the CLB,
investigations into the affairs of companies in question have been taken up
under the provisions of the Companies Act, 1956. The details of investigations ordered by CLB
and the progress of investigation/ subsequent legal action are as under:
|
S.No.
|
Name of Company
|
Date of order of Inv.
|
Present position
|
|
1.
|
Rangoli Texdye
Pvt. Ltd.
|
06-08-2004
|
Investigation Report received and instructions issued to
find out status and latest position of appeal against Hon’ble
CLB order for investigation, filed by Shri Maheshwari, Managing Director before Hon’ble
High Court of Madras.
|
|
2.
|
Triumph International Finance India Ltd
|
20.10.2004
|
Investigation Report received and instructions issued to
SFIO to file prosecutions.
Prosecutions under the Companies Act, 1956 have been filed and
prosecution under IPC wherever applicable are being filed.
|
|
3.
|
N H Securities Ltd
|
-do-
|
-do-
|
|
4.
|
K N P Securities Pvt Ltd
|
-do-
|
-do-
|
|
5.
|
V N Parekh Securities Pvt Ltd
|
-do-
|
-do-
|
|
6.
|
Panther Fincap and Management
Services Ltd.
|
-do-
|
-do-
|
|
7.
|
Panther Investrade Ltd
|
-do-
|
-do-
|
|
8.
|
Panther Industrial Products Ltd.
|
-do-
|
-do-
|
|
9.
|
Saimangal Investrade
Ltd
|
-do-
|
-do-
|
|
10.
|
Classic Credit Ltd
|
-do-
|
-do-
|
|
11.
|
Classic Shares & Stock Broking Services Ltd.
|
-do-
|
-do-
|
|
12.
|
Luminant Investrade
Pvt Ltd.
|
-do-
|
-do-
|
|
13.
|
Goldfish Computers Pvt Ltd.
|
-do-
|
-do-
|
|
14.
|
Triumph Securities Pvt Ltd.
|
-do-
|
-do-
|
|
15.
|
Nakshatra Software Pvt
Ltd.
|
-do-
|
-do-
|
|
16.
|
Chitrakoot Computers Pvt
Ltd.
|
-do-
|
-do-
|
|
17.
|
Manmandir Estate Development Pvt Ltd.
|
-do-
|
-do-
|
|
18.
|
Shrinath Steels Ltd.
|
26-12-2004
|
Investigation Report received and instructions issued.
|
|
19.
|
Soundcraft Industries Ltd
|
28.02.2005
|
Investigation Report received and instructions issued to
SFIO to file prosecutions.
Prosecutions under the Companies Act, 1956 have been filed and
prosecution under IPC wherever applicable are being filed.
|
|
20.
|
Adam Comsof Ltd.
|
28.02.2005
|
-do-
|
|
21.
|
Kolar Biotech Ltd
|
28.02.2005
|
-do-
|
|
22.
|
Usha India Ltd
|
18.05.2005
|
-do-
|
|
23.
|
Malvika Steel Ltd
|
-do-
|
-do-
|
|
24.
|
Koshika Telecom Ltd
|
-do-
|
-do-
|
|
25.
|
Information Tech of India Ltd.
|
14.10.2005
|
The Allahabad High Court Lucknow Bench has remanded the case to CLB to determine
the questions raised in the petition. Hence, the investigation is kept in
abeyance. Orders of CLB are awaited.
|
|
26.
|
Shonkh Technologies Ltd.
|
16.5.2006
|
Report received and the same is under processing.
|
|
27.
|
Shonkh Technologies International Ltd.
|
16.5.2006
|
Pending
|
|
28.
|
Sporting Pashme India Ltd.
|
21-11-2006
|
Investigation Report received and instructions issued.
|
|
29.
|
Rajasthan Breweries Ltd.
|
06.06.2007
|
As per the order dt. 06.06.2007 of CLB, an inspector has been appointed to
investigate the company under the provisions of the Companies Act, 1956.
|
|
30.
|
Indglonal
Investment and Finance Ltd.
|
06.06.2007
|
- do -
|
|
31.
|
SKA Commercial Pvt. Ltd.
|
06.06.2007
|
- do -
|
|
32.
|
Texas
Brewing Company Ltd.
|
06.06.2007
|
- do -
|
*********
BY/MK-66-07
(Release ID :33886)