First Leasing Company of India plunges on RBI direction

First Leasing Company of India Ltd has received direction from Reserve Bank of India after the inspection of its books of accounts and other records.

In the light of the findings of the inspection of the books of accounts and other records as on March 31, 2013 of First Leasing Company of India Ltd., 749, Anna Salai, Chennai 600002, the Reserve Bank of India has, in public interest and in exercise of the powers conferred on it by Sections 45JA and 45L of the Reserve Bank of India Act, 1934, directed that until further orders, First Leasing Company of India Ltd. shall not sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior written permission of the Reserve Bank of India. The company shall not declare or distribute any dividend, transact any business or incur any further liabilities.

Shares of First Leasing Company of India Ltd was last trading in BSE at Rs.26.80, down by Rs.6.65 or 19.88%. The stock hit an intraday high of Rs.32 and low of Rs.26.80.

The total traded quantity was 16717 compared to 2 week average of 4680.

Source : Equity Bulls

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