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

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A Hyderabad-primarily primarily based infra team, a Mumbai-primarily primarily based NBFC backed by a number one pharma firm, and an NBFC owned by a Kolkata-primarily primarily based steel firm are amongst the entities served with these notices, these sources knowledgeable ET.

Synopsis

Two other folks with notify files of the subject knowledgeable ET that below scrutiny are NBFCs space up by trim family enterprise groups, primarily to cater to the debt desires of their team firms and linked parties.

Mumbai: Transactions primarily interesting linked parties at family-owned non-bank lenders hang advance below the scanner of North Block, with a central division sending notices to about half a dozen such entities fair lately for alleged breach of anti-cash laundering authorized pointers.Two other folks with notify files of the subject knowledgeable ET that below scrutiny are NBFCs space up by trim family enterprise groups, primarily to cater to the debt desires of their team

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