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Friday, October 23, 2020

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

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A Hyderabad-basically basically based infra community, a Mumbai-basically basically based NBFC backed by a number one pharma company, and an NBFC owned by a Kolkata-basically basically based steel company are amongst the entities served with these notices, these sources told ET.

Synopsis

Two of us with declare recordsdata of the matter told ET that under scrutiny are NBFCs blueprint up by big family exchange groups, basically to cater to the debt wants of their community corporations and related occasions.

Mumbai: Transactions basically involving related occasions at family-owned non-bank lenders obtain arrangement under the scanner of North Block, with a central division sending notices to about half of a dozen such entities not too long in the past for alleged breach of anti-money laundering prison solutions.Two of us with declare recordsdata of the matter told ET that under scrutiny are NBFCs blueprint up by big family exchange groups, basically to cater to the debt wants of their community

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