Government has ordered a probe against 167 companies for alleged corporate frauds in about four years of which West Bengal account the largest number of 82 cases.
"During the last three years and in the current year from April 1, 2014 to November 30, 2014 the Ministry, has ordered investigations (through SFIO) in respect of 167 companies for alleged corporate frauds," Minister of Corporate Affair Arun Jaitley informed the lok Sabha in a written reply.
Jaitley said that the finance ministry is in the process of developing an ‘Early Warning System’ aimed at generating alerts for detecting cases of potential fraud and malfeasance.