During
the last three years (i.e. 2010-11 to 2012-13), 154 complaints against
companies have been received in the Ministry of Corporate Affairs. Giving this
information in written reply to a question in the Rajya Sabha today, Shri
Sachin Pilot, Minister of Corporate Affairs, said that inspections u/s 209A
and/ or Investigations u/s 235 or scrutiny of the Balance Sheets and other
documents u/s 234 of the Act in these cases have been ordered. He also informed
the House that his Ministry is in the process of developing an early warning
system to identify cases of frauds or potential frauds at the earliest and the
Pilot testing of the system is expected to be completed during current
Financial Year.
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