Corporate fraud convictions go up to 114 in FY20: govt
Mar 16, 2021
New Delhi [India], Mar 16 : The number of convictions for fraud by companies jumped to 114 in 2019-20 as compared to 95 in FY19 and 23 in FY18, the government said on Tuesday.
At the same time, the number of companies or individuals prosecuted went up to 19 in FY20 as against 9 in FY19 and 16 in the previous fiscal year.
However, the number of companies assigned to the Serious Fraud Investigation Office (SFIO) and probe ordered was 326 in FY20.
In FY19 and FY18, the numbers were 414 abd 226 respectively, Minister of State for Finance and Corporate Affairs Anurag Singh Thakur said.
The number of cases dropped to 26 in FY20 from 33 in the previous year but was up from 22 in FY18, he said in a written reply to the Rajya Sabha.
