Key Points
We are extending full cooperation to the department, including providing complete information sought by them, the company said in an exchange filing...
Shares of Kerala-based Manappuram Finance ended 12% lower on Wednesday after the Enforcement Directorate searched the office premises of the gold loan company earlier in the day..
As the search is ongoing, we will be able to provide more information on its completion, it added, clarifying that the company has always adhered to the best practices in corporate governance and compliances..
While the filing did not divulge details of the search, news agency PTI reported that the search was being conducted to gather evidence related to allegations of collecting public deposits worth over Rs 150 crore by the company in contravention of the Reserve Bank of India guidelines...
ICICI Securities has maintained its buy rating on the lenders shares, factoring in a strong growth in the non-gold products like microfinance, micro, small and medium-sized enterprises (MSME), and vehicle finance...
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