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Wednesday, April 14, 1999
RBI ban on J&N Financial
PRESS TRUST OF INDIA
MUMBAI, APRIL 13: Calcutta-BASED Jenson & Nicholson Financial Services Ltd has been prohibited from accepting public deposits with immediate effect. A Reserve Bank of India press release said that the company had failed to comply with various provisions such as those relating to investment in approved securities, submission of quarterly returns in respect of maintenance of approved securities and keeping them in safe custody with a scheduled commercial bank, not co-operating with RBI inspecting officials among others.The RBI has also received complaints against the company regarding default in repayment of deposits, the release said. The company has also been directed not to sell, transfer or deal in any manner with its property. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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