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Company Affairs Minister Prem Chand Gupta said that the inspection against these companies were based on preliminary report of SEBI.
Prosecutions for established violations of Companies Act 1956 have been ordered, the Minister informed the Lok Sabha.
The list of 96 companies also includes First Global Finance Pvt Ltd and five other companies of the Shankar Sharma and Devina Mehra Group, seven companies of the Zee Tele Group, HFCL, DSQ Software, Nirma Ltd, Ranbaxy Laboratories, Satyam Computers among others.
Gupta said that apart from inspections against 96 companies, the ministry has also launched investigations against 17 tainted companies in connection with the 2001 scam.
The minister informed the House that the newly set up Serious Fraud Investigation Office has been referred 26 cases for investigations, of which four have been completed.
The minister denied that any expert committee has been set up to specifically go into any suggestion by SFIO in regard to improving the system of investigation into corporate fraud.
Meanwhile, Gupta said that inspections were conducted against 954 listed companies in the five-year period ending March 31, 2004 for violation of the provisions of the Companies Act, 1956.
Prosecution for established violation of the Act have been ordered, the minister said in a written reply.