SIFCL

AcronymDefinition
SIFCLSahara India Financial Corporation Ltd
References in periodicals archive ?
this court may be pleased to modify the order dated June 4, 2014, and pass an order restraining the respondents/ non- applicants, including the company, from utilising any of the assets of SIFCL, including the securities, which are maintained by the company under paragraph 6 of the RNBC Directions for the purpose of paying into SEBI- Sahara Refund Account." The RBI also sought a direction to credit to an escrow account with any nationalised bank if any amount already deposited in the SEBI- Sahara Refund Account or account of the partnership firm Sahara India or any other Group derived out of the assets of M/ s SIFCL.
The plea added that the RBI had carried out the inspection of the company at annual intervals under RBI Act and it was noticed that the deposit- taking activity of SIFCL were not in conformity with prudent practices and its directions were being violated.
The plea has also sought direction to SIFCL to disclose the details of its assets and aggregate liability to depositors of the company as on December 31, 2014.