One NBFC official arrested in Tripura

One more executive of a non-banking financial company (NBFC) has been arrested even as the Tripura government ordered four NBFCs to repay the deposits of the customers by July 31, officials said today.
Police raided the main office of 'Response' group at Kerchowmuhani here last evening and arrested the Branch Manager Jiban Chakraborty for alleged irregularities in financial transactions.
The company, a NBFC, had no sanction or license from RBI or SEBI and they were collecting deposits illegally and also failed to show annual statements of collection of deposits and expenditures, police said.
Police had earlier arrested at least 30 executives of chit fund companies this year.

Sub-divisional Magistrate (Sadar) Manik Lal Das said notices were served to the four NBFCs, including Rose Valley, for violating the SEBI Act, 1992, and alluring depositors by giving high rate of interests.
Earlier, Tripura Chief Minister Manik Sarkar told reporters that 27 NBFCs have already closed down their offices in Tripura after collecting Rs.23.16 crore from people.