The Telegraph
Tuesday , February 21 , 2012
Since 1st March, 1999
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NGO threat to shut ‘fraud’ firms

Dhubri, Feb. 20: An NGO has threatened to evict all the non-banking financial companies operating in Dhubri district without approval from the RBI and other government institutions, if no action is initiated by the government to close them down.

Addressing reporters here today at Dhubri Asom Sahitya Sabha auditorium, president of the NGO Udayan, Abu Naser Jilani, alleged that a number of non-banking financial companies, including Red Carpet Entertainment, NEI Solutions Pvt. Ltd, Rangdhali, Sambhab, Hick Project Ltd, has shut down their branches after collecting huge amounts of money from customers.

“We went to Mumbai in search of the head office of Red Carpet Entertainment. There we enquired about the money that people have invested in the company. The officials told us that they had invested the money in Malaysia and they would return the money to the investors once they get it back. But till now the company has failed to return the money within the stipulated time,” Jilani alleged.

Jilani, while displaying the two cheques of Axis Bank and IDBI amounting Rs 20,000 and Rs 50,000 respectively, issued to Reza Faridul Haque on October 29, 2010, by NEI Solutions Pvt. Ltd, said when the cheques were tendered in the banks, the account of the company was found to be non-existent.

Secretary of Udayan, Rajesh Sil Kasyab, said people, who had invested their money in these financial institutions, are now running from pillar to post to get back the money.

“These companies do not have approval from Non-Banking Financial Corporation, which is a competent authority to issue certificates to non-banking activities but because of lack of awareness about this, innocent people are being victimised,” Kasyab said.

Jilani said there were at least 150 non-banking financial companies operating in the district and despite repeated pleas to the district administration to close them down, so far no action has been taken against them.

“But we will not sit idle, but evict these companies from the district,” he said.

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