referring to the reply given to USQ 613 on July 9, 2004 and to state:
(a) whether the non-banking company has since rectified the irregularities/deficiencies;
(b) if so, the details thereof; and
(c) if not, the time by which steps proposed to be taken to rectify the deficiencies ?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI S.S. PALANIMANICKAM)
(a), (b) & (c) :- Reserve Bank of India (RBI) have reported that the company has
initiated steps to rectify all the deficiencies/irregularities. Some of the deficiencies
observed during the inspection of the books of accounts and other records of the company
carried out between November 03, 2003 and January 09, 2004 have been rectified by the
company. The position of compliance is being closely monitored by RBI.