{"id":55558,"date":"2022-02-14T12:15:13","date_gmt":"2022-02-14T06:45:13","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?page_id=55558"},"modified":"2022-02-14T12:15:15","modified_gmt":"2022-02-14T06:45:15","slug":"assets-worth-rs-288-cr-of-chinese-owned-nbfc-seized","status":"publish","type":"page","link":"https:\/\/enterslice.com\/learning\/whitepapers\/assets-worth-rs-288-cr-of-chinese-owned-nbfc-seized\/","title":{"rendered":"Assets worth Rs.288 cr of Chinese owned NBFC seized"},"content":{"rendered":"<p>A FEMA authority has seized funds of about Rs. 288 crore of <a class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;NBFC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Non-Banking Financial Companies (NBFC) operate similarly to banks but do not possess the legal status of a bank. Registered under the Companies Act 2013 and governed by the RBI Act&amp;#039;s section(...)&lt;\/div&gt;\"  href=\"https:\/\/enterslice.com\/learning\/terms\/nbfc\/\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>NBFC<\/a> which are owned by Chinese corporations. The company used to lend micro-loans to individuals and then harass their borrowers by threatening and misusing their personal data.<\/p>\n\n\n\n<p>The enforcement directorate through its statement, said &ldquo;the full seizure of the funds in the action taken against Chinese-owned P C Financial Services NBFC,&rdquo;.<\/p>\n\n\n\n<p>The ED has seized PC Financial Services NBFC&rsquo;s funds present in both the banks and payment gateways. The cumulative amount is around Rs.288 crores. The action has been taken under the relevant sections of the Foreign exchange management Act.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A FEMA authority has seized funds of about Rs. 288 crore of <a class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;NBFC&lt;\/div&gt;&lt;div class=glossaryItemBody&gt;Non-Banking Financial Companies (NBFC) operate similarly to banks but do not possess the legal status of a bank. Registered under the Companies Act 2013 and governed by the RBI Act&amp;#039;s section(...)&lt;\/div&gt;\" href=\"https:\/\/enterslice.com\/learning\/terms\/nbfc\/\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]'>NBFC<\/a> which are owned by Chinese corporations. The company used to lend micro-loans to individuals and then harass their borrowers by threatening and misusing their personal data. The enforcement directorate through its statement, said &ldquo;the full seizure of the funds in the action [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":55560,"parent":15144,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"download-newsletter.php","meta":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Assets worth Rs.288 cr of Chinese owned NBFC seized - Enterslice<\/title>\n<meta name=\"description\" content=\"A FEMA authority has seized the funds of about Rs. 288 crore of NBFC which areowned by the Chinese corporations.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/whitepapers\/assets-worth-rs-288-cr-of-chinese-owned-nbfc-seized\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Assets worth Rs.288 cr of Chinese owned NBFC seized - Enterslice\" \/>\n<meta property=\"og:description\" content=\"A FEMA authority has seized the funds of about Rs. 288 crore of NBFC which areowned by the Chinese corporations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/whitepapers\/assets-worth-rs-288-cr-of-chinese-owned-nbfc-seized\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:author\" content=\"enterslice\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-14T06:45:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2022\/02\/Assets-worth-Rs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"350\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/55558"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=55558"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/55558\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/pages\/15144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/55560"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=55558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}