Haryana Capfin's Company Secretary
According to the Indian Express, Haryana Capfin, a non-banking finance company (NBFC), has been facing challenges in its operations due to regulatory issues. The company's assets under management (AUM) have been declining, and it has been struggling to meet its capital requirements.
In an interview with the Economic Times, Haryana Capfin's managing director, Rajnish Chopra, stated that the company is "working closely with the regulator to address the concerns and is confident of resolving the issues soon."
The company's woes began in 2020 when the Reserve Bank of India (RBI) initiated an inspection of Haryana Capfin's books, leading to the discovery of several irregularities. The RBI subsequently imposed a fine on the company for violating several norms.
In response to the regulatory issues, Haryana Capfin's board of directors has taken several measures, including the appointment of a new chief executive officer (CEO) and the strengthening of its risk management systems.
"We are committed to transparency and accountability, and we are working closely with the regulator to address the concerns." - Rajnish Chopra, Managing Director, Haryana Capfin
As the company continues to navigate through these challenges, its ability to meet its financial obligations and maintain investor confidence will be closely watched.
Author's Note: Haryana Capfin's regulatory woes highlight the importance of ensuring robust risk management systems and maintaining transparency in financial institutions. The company's ability to recover from these challenges will be crucial in maintaining investor confidence.