Indian companies seem to get away by not paying back public deposits. Will the newly active Ministry of Corporate Affairs under Nirmala Sitharaman start acting in the interests of the depositors?
Sucheta Dalal
The ministry of corporate affairs (MCA), which has a dynamic new minister in Nirmala Sitharaman, needs to pay attention to companies that continue to cheat people by failing to repay fixed deposits to investors. The new Companies Act has made corporate deposits a tad safer by tightening net-worth norms and mandating credit rating (to assess the ability to repay deposits).
.jpg "MoneyLife")
