Excelsior Correspondent
JAMMU, Dec 12: The 2nd meeting of the Sub-Committee of Union Territory Level Coordination Committee (UTLCC) was held here in PHQ regarding Non-Banking Financial Company (NBFC).
The meeting was presided over by Arun Kumar Chowdhary, Special Director General of Police Crime Branch J&K, and was attended by Javid Iqbal Matoo (DIG, Crime Branch J&K), Laeeq Ahmad (Joint Director, Prosecution Crime Branch J&K), Villy Koul (Special Secretary to Law Department), Imtiyaz Hussain Mir (SSP CID Headquarters TMG J&K), Rakesh Kumar (Additional Secretary, Finance Department) and Maheer Thakur (Information Officer).
Besides, the Regulator(s) from Reserve Bank of India, Registrar Companies and SEBI that include Haamid Bukhari (ICLS, ROC J&K), Amit Manai (Assistant GM, SEBI Delhi), Sudesh Kumari (Manager RBI), Shail Bhardwaj (Assistant Manager, RBI) and Varun Gupta (Assistant Manager, RBI) also participated in the meeting.
During the meeting, the NBFC cases on the basis of Marketing Intelligence were discussed. Moreover, the directions passed on 10th of March, 2023 in 33rd UTLCC meeting were also deliberated upon in the meeting.
All the stake holders were advised to lay emphasis upon the general awareness among the public about the unregulated NBFC and NIDHI companies in the market and to involve other institutions like Panchayat(s) and educational institutions in this mass awareness campaign. They were advised to circulate documentaries and short clips for awareness on social platform and others mediums and modes of publicity and publication.
The regulators were advised to further activate market intelligence and take necessary action if any such case of unregulated NBFCs is noticed, and refer complaints/ inputs to Investigating Agency for cognizance.
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