Govt orders probe into affairs of Fortis Healthcare Ltd : Minister

Speed Post News Network

New Delhi : The Ministry of Corporate Affairs has ordered an investigation into the affairs of Fortis Healthcare Ltd and assigned the same to  Serious Fraud Investigation Office (SFIO) on February 17, 2018.

During the investigation process all the issues in their entirety will be examined by the SFIO.  The investigation is presently in initial stage.This was stated by Union Minister of State for Law & Justice and Corporate Affairs P P Chaudhary in Lok Sabha on March 23, 2018, according to a PIB release.

The Minister said the Government has taken many steps to check the corporate frauds and  treating fraud as a substantive offence has been introduced in the Companies Act, 2013. Stricter norms of Corporate Governance have been prescribed under the Companies Act, 2013, and Information Communication Technology (ICT) tools are being used for early detection of frauds through data analysis, surveillance and forensics etc, he said.

The SFIO is a multi-disciplinary organisations under Ministry of Corporate Affairs, Government of India.