New Delhi, Feb 4 (PTI) – The Serious Fraud Investigation Office (SFIO) has submitted 82 investigation reports over the past three financial years, with the highest number—40 reports—filed in 2023-24, the government informed the Rajya Sabha on Tuesday.
During the same period, the Ministry of Corporate Affairs assigned the agency 26 cases for investigation.
Union Minister of State for Corporate Affairs, Harsh Malhotra, in a written reply, stated that the ministry has no verified data indicating a rise in corporate fraud cases over the past five years. His response came in reply to a query on whether corporate fraud cases had increased in recent years.
According to the data provided, SFIO submitted 40 reports in 2023-24, surpassing the 29 reports in 2022-23 and 13 in 2021-22. However, the minister clarified that no financial recoveries were made by SFIO during this period.
Over the past five financial years, SFIO has been assigned 72 cases, including 26 in 2019-20, 20 in 2020-21, and 14 in 2021-22. The number of cases assigned dropped to seven in 2022-23 and further to five in 2023-24.
The government’s clarification underscores the agency’s investigative efforts while highlighting the fluctuating number of assigned cases.
