RBI bars First Leasing from undertaking business

RBI also prohibited the company from paying a dividend
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First Published: Fri, Sep 13 2013. 10 05 PM IST
RBI says First Leasing cannot sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the RBI. Photo: Pradeep Gaur/Mint
RBI says First Leasing cannot sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the RBI. Photo: Pradeep Gaur/Mint
Mumbai: The Reserve Bank of India (RBI) on Friday barred First Leasing Company of India Ltd, a Chennai-based financial services firm, from conducting any business after inspecting the books of the firm.
RBI also prohibited the company from paying a dividend, it said in a release.
First Leasing cannot “sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the RBI,” RBI said.
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First Published: Fri, Sep 13 2013. 10 05 PM IST
More Topics: RBI | First Leasing Company | Dividend |
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