New Delhi, Feb 26: The Finance Ministry on Monday released a list of around 9,500 Non-Banking Financial Companies (NBFCs), which have been categorised as high-risk financial institutions.
According to the Prevention of Money Laundering Act (PMLA), all NBFCs have to appoint a principal officer in the financial bodies and report all suspicious and cash transactions of more than ten lakh rupees to the Financial Intelligence Unit (FIU).
But, these firms have been found not following these guidelines as on January 31, 2018.
ADANI CAPITAL PRIVATE LIMITED, Anand Corporate Holdings Pvt. Ltd., Arihant Udyog Ltd., Asian Financial Services Ltd., AVON MONEY SOLUTION INDIA LIMITED, Bindal Finvest., Bombay Gas Co Ltd., CELLO CAPITAL PRIVATE LIMITED, Dlf Finvest Limited, Eros Merchants (P) Ltd, and Indigo Fincap Pvt Ltd are some of the companies listed by FIU.