Port Blair, Apr 30: Taking cognizance of recent reports of financial scam by the company name “SHARDA” in national print and electronic media and as per the directions of the Hon’ble Lt. Governor, A & N Islands, a meeting was held in the chamber of Deputy Commissioner, South Andaman on 30th April 2013 to discuss the operation of Chit fund companies/non banking financial institutions and suggest further steps to check any prospective fraud and manipulation of the money of general public by any such company in these Islands. Andaman Sheekha had reported that atleast nine private companies are collecting money from people of Andaman and Nicobar Islands, in its 29.04.2013 issue.
This meeting was attended by SP, District, SP (CID), legal and financial officers from administration and financial institutions. In the meeting it was decided to seek the details of all such chit fund companies/non banking financial institutions dealing in deposition of general public money and to issue notices to all these companies/non financial banking institutions to provide all relevant documents pertaining to their functioning to the office of the Deputy Commissioner, South Andaman within 3 days. A sub-committee under the chairmanship of Deputy Secretary (Law) has also been constituted to examine the documents of all such companies and to submit a report about the functioning of the same.
In the meanwhile the general public of these Islands is advised to be cautious in investing their hard earned money in non-registered non-banking financial institutions and ensure the credential and legality of the institutions before any investment.
General public is also advised to provide information about functioning of any such chit fund company/non-banking financial institutions if they have any doubt about the functioning and credentials of the same.
