Govt dealing with serious frauds by companies, stock brokers

August 09, 2012 14:34

Also in Parliament... "The government is seriously engaged in dealing with serious frauds committed by companies, stock brokers and sub-brokers in the corporate sector," Corporate Affairs Minister M Veerappa Moily said during Question Hour today.

Moily who was recently handed the power portfolio as well, said that the Serious Fraud Investigation Office had established Market Research and Analysis Unit to deal with frauds committed by brokers and sub-brokers.

"The ministry is seriously engaging with this matter and a number of measures have been taken," Moily said. He said around 32,000 companies have adopted guidelines issued by the ministry and the Serious Fraud Investigation Office. This will help the SFIO to deal with the menace in a more effective manner.

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