Only one registered HFC hauled up for duping people

New Delhi, Aug 24 (UNI) License of only one of the total 43 housing finance companies (HFCs) registered with the National Housing Bank (NHB) in the country has been cancelled for fraudlent activities.

Stating this in reply to a question by Mr Girdhari Lal Bhargava of BJP in Lok Sabha today, Finance Minister P Chidambaram, however, disclosed six unregistered housing finance companies had been wound up and proceedings against four others were pending in High Courts on the charge of doing business in violation of NHB Act, 1987.

Regarding the only registered HFC delicensed by the NHB, he said besides cancelling certificate of Varanasi-based Dharohar Housing and Finance Ltd, criminal complaint has been filed against it and investigation launched by economic offences wing of police in West Bengal.

Dharohar Housing and Finance Ltd is no longer operating now as liquidator was appointed on September 29, last year and public notices issued by NHB in local press regarding cancellation of certificate of registeration of the company, he added.

UNI