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February 25, 2024 10:23 am

Chief Secretary Vijay Kumar Janjua bats for strict implementation of provisions of Banning of Unregulated Deposit Act, 2019

The Fact News Service
Chandigarh, May 2

In order to protect the hard-earned money of citizens of the state, Punjab Chief Secretary Vijay Kumar Janjua has reiterated Chief Minister Bhagwant Mann led state government’s commitment to safeguard the people and laid emphasis on strict implementation of provisions of Banning of Unregulated Deposit Act, 2019. He was chairing the 19th State Level Co-ordination Committee (SLCC) Meeting at Chandigarh on Tuesday.

Further, in view of very low recovery in the case of Pearls Agrotech Corporation Limited (PACL), the Chief Secretary directed SEBI and RBI to provide a list of all the 2497 properties of PACL immediately. Further, he advised the Securities Exchange Board of India (SEBI) and Reserve Bank of India (RBI) to expedite the process of recovery. Furthermore, he also assured SEBI that State Government will give full support and cooperation to all the concerned regulators in such cases.

 Janjua also directed RBI and SEBI to conduct Financial Literacy Camps at the root level i.e. for the awareness of downtrodden sections of the society which easily fall prey to the false promises of fraudsters.

 The meeting was attended by Secretary Finance Garima Singh, General Manager RBI Chandigarh Richa Pandey Dwivedi and Senior Officers from Economic Offence Wing, Assistant Legal Remembrance, Assistant General Manager of SEBI, officers from Registrar of Cooperative Societies and Council Member Institute of Chartered Accountants of India.

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