Chennai, July 17 (IANS) Retail chain Subhiksha may be probed by the Serious Fraud Investigation Office (SFIO) for misleading ICICI Venture on the actual financial condition of the company, union minister Salman Khurshid said Saturday.
The corporate affairs minister said the report of Registrar of Companies (ROC) on the the retail chain may be sent to SFIO.
Speaking to reporters on the sidelines of a seminar here, Khurshid said: ‘Passing something on to the SFIO is not a judgement. The report will reach me once I go back to Delhi.’
Debt-laden Subhiksha was subject to ROC’s investigation on a complaint by ICICI Venture that had invested in the retail chain.
Meanwhile addressing a seminar on ‘Informed Investor – An Asset to Corporate India’, organised by the Southern Chamber of Commerce and ministry of corporate affairs, Khurshid said there is a need to educate the common man on capital market.
According to him, a guide on investing will be published in 14 regional languages so that the common man understands the capital market.