DFL Infra stopped by RBI to organize biz without approval
The DFL Infrastructure Finance has been prohibited from selling or transferring its properties as well as transacting in other business activities without approval from the Reserve Bank due to irregularities in the findings of the company’s books and accounts checked last year.
The company says that they are not allowed to sell, transfer, create charge or mortgage or deal in any manner with its property and assets without taking grant from RBI.
The regulator says that RBI has taken the decision in public interest and directed DFL, not to sell, transfer, create charge or mortgage r deal in any manner with its property and property with taking its approval.
DFL mentioned that the guidelines came from RBI after inspection of books and accounts and other records. The company is prohibited to declare or distribute any dividend, transact any business as well as sustain any further liabilities.
Though, RBI did not provide the facts of the inspection that caused the company to stop conducting business activities.
DFL Infrastructure Finance Limited (DFL), earlier known as Dhandapani Finance and Investments Private Limited was established in 1986 and was converted to DLF some time ago. DFL is a non banking Financial Company registered with RBI as Hire Purchase and Leasing Company. The organization is mainly busy in the business of financing of tractors, construction equipment, commercial vehicles and other passenger carrying multi utility vehicles, cars.
Source: mydigitalfc.com
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