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Ministry Of Corporate Affairs Is Cracking Down Hard On Illegal NBFCs

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This week on fight back, Vivek law on Bloomberg TV India tells you that even as the finance ministry has stepped up its efforts to bring in regulations to regulate illegal collective investment schemes, the ministry of corporate affairs is cracking down hard on illegal NBFCs. We have exclusively learnt that the MCA has sent an investigative report to the reserve bank indicting nearly 40 unregistered NBFC’s, guilty of allegedly collecting money from the public.