SFIO has launched probe against 11 companies, including an entity named Dabang Marketing and Trading Pvt Ltd, for alleged involvement in the estimated Rs. 6,000 crore suspicious forex transactions at a Bank of Baroda branch.
CBI and Enforcement Directorate have already registered cases on the basis of complaint filed by Bank of Baroda (BoB) bank regarding irregularities in outward foreign remittances from its Ashok Vihar Branch in New Delhi through newly opened accounts, to the tune of about Rs. 6,000 crore.
Besides, a forensic probe has been ordered into alleged irregularities by the Department of Financial Services.
“Based on preliminary scrutiny, the Ministry has ordered investigation under Section 212(1)(c) of the Companies Act, 2013 into the affairs of 11 companies which are allegedly involved in suspicious foreign exchange transactions,” Corporate Affairs Minister Arun Jaitley said in a written reply to the Rajya Sabha.
He was responding to a query on whether the Serious Fraud Investigation Office (SFIO) has started probing companies in connection with the BoB case.
Section 212 of the Companies Act pertains to investigation by SFIO.
Apart from Dabang Marketing and Trading, other 10 entities being probed include Msquare Prudent Multitrade Pvt Ltd, Laksh Rubber India Pvt Ltd, Sun Air Solutions Pvt Ltd, Peacock Overseas Pvt Ltd and Acoustic Trading India Pvt Ltd.