Is it right to allow Margarshi Financiers, a loss making HUF to collect deposits from general public ?

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Is it right to allow Margarshi Financiers, a loss making HUF to collect deposits from general public ?

2006-11-09 00:49:07 · 2 answers · asked by Anonymous in Business & Finance ➔ Personal Finance

2 answers

If u mean the Margadarshi Financiers / Chit funds of Andhra Pradesh (of EENADU Group), it is for the RBI to decide whether it is a loss making one or not, if the Accounts have not been audited!! We can't take a decision just on the basis of the complaint of an MLA!! He should show the proof for his complaint!!

And Margadarshi is not a HUF, it is a NBFC (Non Banking Finance Company)!!!

2006-11-09 01:08:02 · answer #1 · answered by skr 3 · 1⤊ 0⤋

Maybe if it is authorized by the government.

2006-11-10 06:52:20 · answer #2 · answered by ? 7 · 0⤊ 0⤋