The Company Law Board has ordered investigations into the affairs of 32 companies, including a few entities related to notorious stock market broker Ketan Parekh, for alleged fraud in the last three years.In a written answer to Lok Sabha, Minister of Corporate Affairs Prem Chand Gupta said investigation reports have been received in 23 cases and instructions issued to Serious Fraud and Investigation Office to prosecute the concerned persons.
Investigations against four entities having links with Parekh - Triumph securities, Nakshatra Softwares, Goldfish Computers and Luminant Investrade - have been completed.
Following its directions, SFIO has filed prosecution against these companies under the Indian Penal Code, Gupta said. He also said that in four cases directed for probe by the CLB this year, the Ministry has already appointed inspectors to investigate the affairs of Rajasthan Breweries, Indglonal Investment, SKA Commercial and Texas Brewing Company.
In the case of Shonkh Technologies, Gupta said the Ministry is processing the investigation report. The Ministry has also directed SFIO to take action against Usha India, Malvika Steel [Get Quote], Koshika Telecom, Kolar Biotech, Adam Comsof and Information Tech of India.
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