(a) the number of fake companies in Rajasthan which have received
funds from small investors during the last five years;
(b) if so, whether any such complaints have been received by the Government from the State Government of Rajasthan;
(c) the authority assigned the responsibility to monitor the
activities of such companies; and
(d) the action being taken by the Government in this regard?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB VIKHE PATIL)
(a) The Reserve Bank of India (RBI) has intimated that twelve
Non-Banking Financial Companies (NBFCs) in Rajasthan which have
mobilized funds from investors, are reportedly not available at
their stated office addresses.
(b) Information is being collected and will be laid on table of the
House.
(c) & (d) Financial market entities are regulated by
SEBI/RBI/Department of Company Affairs (DCA) depending on the nature
of their activities. Appropriate action against entities which fail
to meet their obligations is taken by the regulators including
debarring them and their promoters/directors etc from the capital
market; prosecution and liquidation proceedings etc.
Seven Task forces have been constituted region-wise to identify
`vanishing` companies. The Task Forces are monitored by a Central
Co-ordinating Committee with Secretary, DCA and Chairman, SEBI as its
co-Chairmen.