Manappuram

Gold loan firms face slowdown due to falling gold prices

Gold loan firms face slowdown due to falling gold pricesIt is believed that the gold pawn companies in India are likely to face a slowdown due to the falling price of the metal in the country and in the global markets.

Manappuram Finance investors plan to seek redress from Sebi

Manappuram Finance investors plan to seek redress from SebiManappuram Finance Ltd (MFL) shareholders who suffered losses due to steep decline in the market value of the company’s stock are planning to seek redress from Securities & Exchange Board of India (Sebi).

MFL stock crashed nearly 20 per cent to Rs 27.70 a share on Tuesday on reports that the company selectively shared information about huge loan losses with some of its investors before an analyst call.

RBI warns Manappuram against accepting deposits

RBI warns Manappuram against accepting depositsThe Reserve Bank of India (RBI) has said that Manappuram Finance Ltd or group company Manappuram Agro Farms are not eligible to accept nay form of public deposits and any acceptance of deposits will be punishable.

The firm is not eligible to accept deposits as it has converted itself into a non-deposit taking non-banking financial company. The central bank said that the company is not permitted to accept deposits from the public and that is punishable with imprisonment.

Manappuram net profit at Rs 120 crore

Manappuram net profit at Rs 120 croreGold loan major Manappuram General Finance and Leasing has announced its annual financial results for the fiscal year 2009-10 and has posted an impressive net profit. The company has registered a annual net profit of Rs
119.72 crore for the year that ended on 31st March, 2010. It was reported to be Rs 30.30 crore for last year.




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