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Drumbeat: Ad Buzzaar
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Friday, August 21, 1998
Sinha's help sought to recover money from finance firms
PRESS TRUST OF INDIA
NEW DELHI, Aug 20: Public Action Forum, a consumer group, has sought finance minister Yashwant Sinha's help to ensure quick re-payment of money by defaulting finance companies. In a letter to the finance minister, the forum said "despite reminders to various regulatory authorities like Reserve Bank of India, the Securities and Exchange Board of India and Ministry of Finance, no action has been taken to ensure restoration of investors' money".The forum claimed that JVG group of companies, Hoffland Finance, Kuber group, Crystal Credit and ATN Ltd have been defaulting and efforts are being made by these companies to vacate the stay of the Delhi High Court.The high court had issued an ad interim injunction against these companies for sale of their assets.
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