hammer1.gif (1140 bytes) People's Democracy

(Weekly Organ of the Communist Party of India (Marxist)

Vol. XXV

No. 32

August 12, 2001


COMPANIES  ON THE RUN

The Securities and Exchange Board of India (SEBI) in its Report of August 2, has identified 209 companies which have defaulted on repaying loans to various financial institutions. Their state-wise distribution is given below. These companies did not even submit their reports before SEBI or the concerned Stock Exchange as is the rule. Though SEBI and Department of Company Affairs (DOCA) of the central government are not sure how much money the investors have lost, the amount is at least several hundred crores. Samir Biswas, regional director, DOCA said the amount is being calculated with SEBI.

 

Hall of Shame

State Defaulter
Gujarat 65
Delhi 33
Andhra Pradesh 22
Tamil Nadu 21
Maharashtra 19
West Bengal 18
Karnataka 11
Madhya Pradesh 10
Uttar Pradesh 10
Total 209

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