Key Points
IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) will undergo a special audit to further probe their regulatory breaches, as the Reserve Bank has initiated the process for the appointment of auditors..
Audit firms empanelled by the Securities and Exchange Board of India (Sebi) for forensic audit can participate in the tendering process, and the last date for submission of bids is April 8, as per the tender document published by the Reserve Bank of India...
The central bank barred IIFL Finance from sanctioning or disbursing gold loans after certain material supervisory concerns were observed in its gold loan portfolio...
A day after, the Reserve Bank imposed restrictions on JM Financial Products Ltd following the finding that the company indulged in various manipulations, including repeatedly helping a group of its own customers to bid for various IPOs by using loaned funds...
The central bank barred the systemically important non-deposit-taking NBFC from providing any kind of financing against shares and debentures, including sanction and disbursal of loans against initial public offering (IPO) of shares and subscription to debentures...
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