The number of recorded cases of embezzlement by Indian companies shot up in the first quarter of the current fiscal in line with the trend over the last couple of years. The total number of embezzlement cases, based on complaints received by the authorities, rose sharply to 55 against mere 45 cases in the whole of the last financial year ended March 31, 2013.
This is based on data shared by Sachin Pilot, minister of corporate affairs, responding to a question in the Rajya Sabha, the upper house of the Indian parliament. He said that information relating to amounts involved is not maintained and did not give details of the companies which have figured in the cases.
Here’s a quick snapshot of registered embezzlement cases in the past four years.
(Edited by Joby Puthuparampil Johnson)