Financial Daily from THE HINDU group of publications
Sunday, Jan 30, 2005
Financial Daily from THE HINDU group of publications Sunday, Jan 30, 2005 |
|
|
|
|
|
Corporate
-
Fixed Deposits Investigations into JVG Group
THE Ministry of Company Affairs has decided to initiate investigations into JVG Group of Companies, which had accepted deposits from the public but defaulted in repayment in the 90s. "The Government has been receiving large number complaints on repayment of deposits. Based on the complaints, the Ministry has decided to initiate investigations into the group companies," official sources told Business Line. In fact, the case is likely to be referred to the Serious Fraud Investigation Office. Some of the Group companies include JVG Finance, JVG Departmental Stores, and JVG Consumer Products. The Reserve Bank of India had stopped acceptance of public deposits by several NBFCs and moved liquidation procedures against several groups, including the JVG Group, with three of its group companies, JVG Finance, JVG Leasing Ltd and JVG Securities, facing investigation and liquidation.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|