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SFIO Receives Complaints Against ICICI Bank, L&T

The Serious Fraud Investigation Office has received complaints against private sector lender ICICI Bank Ltd. and engineering firm Larsen and Toubro Ltd.

“The SFIO receives various complaints against companies...complaints have been received against Mehul Choksi, ICICI and L&T,” Minister of State for Corporate Affairs PP Chaudhary said in a written reply to the Rajya Sabha.

However, the minister has not provided details of the complaints about ICICI and L&T. The probe agency comes under the Corporate Affairs ministry.

On the complaints received against Choksi, Chaudhary said the ministry had in February, ordered an SFIO probe into the affairs of 114 entities directly or indirectly associated with Nirav Modi and Mehul Choksi and their family members in the multi-crore fraud at Punjab National Bank. “The matter is currently under investigation,” he said.

In a separate reply, the minister said the government has assigned investigation to the SFIO into the affairs of 29 listed companies in more than five years. Of this, the investigation has been completed in respect of four companies. Prosecutions in all the four companies have been filed, he said.

Also read: No Reference From SFIO On ICICI Bank Matter, Says Corporate Affairs Secretary