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Thursday, October 22, 2020

NBFCs under North Block scanner for anti-money laundering law breach

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A Hyderabad-essentially based mostly infra crew, a Mumbai-essentially based mostly NBFC backed by a leading pharma company, and an NBFC owned by a Kolkata-essentially based mostly steel company are amongst the entities served with these notices, these sources rapid ET.

Synopsis

Two people with notify information of the topic rapid ET that below scrutiny are NBFCs predicament up by mountainous family industry groups, essentially to cater to the debt needs of their crew companies and linked parties.

Mumbai: Transactions essentially keen linked parties at family-owned non-monetary institution lenders bear near below the scanner of North Block, with a central division sending notices to about half a dozen such entities no longer too prolonged prior to now for alleged breach of anti-money laundering regulations.Two people with notify information of the topic rapid ET that below scrutiny are NBFCs predicament up by mountainous family industry groups, essentially to cater to the debt needs of their crew

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