Government investigating complaints of financial fraud against 154 companies

The government is looking into complaints of financial fraud against 154 companies, including those connected withSaradha Group and Rose Valley Group, Parliament was informed on Monday. 

"Complaints have been received against 154 companies/organisations during the last three years," corporate affairs ministerSachin Pilot said in a written reply to the Rajya Sabha. Pilot said his ministry has ordered a probe of the balance sheets and other documents in these cases. "Some cases have been referred to the economic offences wing of the state government concerned for further investigation," he added. 

According to the list provided by the minister, complaints of financial fraud have been received against 10 Saradha Group entities including Saradha Realty, Saradha Agro Development, Saradha Exports and Saradha Garden Resorts & Hotel. 

Besides, the list names 14 entities related to Rose Valley Group, including Rose Valley Industries, Rose Valley Marketing and Rose Valley Hotels and Entertainment. Vaishnavi Corporate Communication, Speak Asia, Reebok India, Alchemist Infra are among the other companies against whom complaints have been received, according to the list.(Economic Times)