RBI Sensitizes Himachal Police about vanishing non-banking finance companies

Shimla: Cautioning about dubious non banking finance companies doing a vanishing act in Himachal, Reserve Bank of India executives listed out 28 such fake institution who had duped many depositors.
The disclosure was made a one day seminar with top police personnel held at the police headquarters today.

Inaugurated Somesh Goyal, ADG, the RBI executives highlighted the role of law enforcing authorities on modus operandi and areas of frauds committed by unscrupulous non banking financial companies.

The team was led by Veena Roy Singh, DGM, RBI Chandigarh and included TR Nangal and Peeyoosh Nag.

The 28 fictitious non-banking finance companies pointed out included A V Advances & Deposits Pvt.; Avasthi Deposits & Finance Co.Pvt. Ltd.; Beas Motor Finance Pvt. Ltd.; Bhagra Finance Pvt. Ltd.; Bullu Motor & Gen Finance Ltd.; Chanchal Investment Pvt. Ltd. ; Dev Bhartiya Financial Services Ltd.; Dev Bhumi Finance India Ltd.; Ghumarwin Motor Finance Pvt.Ltd ; Hill Land Deposits & Advances Pvt. Ltd; Him Estate Chit & Finvest Pvt. Ltd.; Him Land Motor Finance Ltd.; Him Valley Finvest Pvt.Ltd. ;.Himachal Hsg& Fiscal Services Ltd; Himalayan Fincap Ltd; Kuthiala Chit & Finance Pvt. Ltd; Navodya HP & Deposits Ltd; Navyug Hire Purchase Pvt. Ltd.; Ranaut Motors Pvt. Ltd.; Real Deposits & Advances Pvt. Ltd.; Sagoo Hire Purchases Pvt. Ltd; Shivalik Credit Pvt. Ltd; Sirmour Sadburg Finance Ltd.; Sunline Leasing Ltd. ; Swagat Motor & Gen Finance Pvt. Ltd.; Vanshi Leasing & Finance Pvt. Ltd.; Virk Deposits & Advances Pvt. Ltd. and Wheel Finance & Forest Ltd. Solan.

Later DS Manhas DGP also interacted with the participants. The police officer requested RBI to jointly create awareness among public about these vanishing companies so that gullible people could be saved from getting duped by these companies.

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