New Delhi, Oct 26: The independent investigations into corruption charges against Xerox Modicorp and Flex Industries have not been over one year after these probes began - showing that DCA's decision to "outsource" such enquiries may not prove to be a bright idea after all. The investigations into violation of the Companies Act were initially expected to be completed within three months. So far, no reports have been submitted by either of the investigators who have cited different reasons for the delay, official sources said.
S K Jain & Company, the Delhi-based chartered accountants looking into Xerox Modicorp bribery scandal, are unable to locate the company's former managing director Pierre Nothard.
In the case of Flex Industries, the investigators, T R Chaddha & Company, have not given any timeframe when they will finish their enquiries, sources said.
The Department of Company Affairs (DCA) had "outsourced" the two investigations after finding it difficult to conduct its own enquiries because of shortage of personnel.
The DCA had hoped then that the outside investigators would be fast in conducting and concluding their enquiries.
Bureau Report