SEBI, RBI blacklisted cos get CM boost

May 24 2010, 15:16 IST
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SummaryIt is alleged that the Tripura CM is boosting the fortunes of blacklisted companies.

Leader of the Opposition in Tripura Ratan Lal Nath today alleged that Chief Minister Manik Sarkar and his colleagues were encouraging Non-Banking Financial Institutions (NBFIs) blacklisted by RBI and the Security and Exchange Board of India.

"The state administration had identified 82 NBFIs which did possess valid papers or licenses for working as non banking financial institutions, but the chief minister and many of his cabinet colleagues are praising them and attending their functions which means encouraging and indirectly helping them to attract customers," Nath told reporters.

He claimed that NBFIs collected about Rs.12000 crore in Tripura in the last one year, but the state government knowing that these institutions were illegal did not take any action against them.

Nath said, the assembly had enacted the Tripura rotection of Interest of Depositors (In Financial

Establishment) Act 2000, but a decade had passed without the ublic being aware of it.

He also said the government did not have the political ill to take action against the illegal activities of chit


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