Non-Compliant NBFCs
Non-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do so
Prevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s) including Non-Banking Financial Companies (NBFC’s) to verify identity of clients, maintain records and furnish information to FIU-IND. To facilitate the filing of prescribed reports under PMLA, FIU-IND has developed a platform called FINnet Gateway portal. In order to file the prescribed reports, it is necessary for a Reporting Entity (RE) to register itself and its Principal Officer (PO) through the FINnet Gateway portal of FIU-IND.
As these unregistered NBFCs remain outside the reporting ambit of FIU-IND, they pose a risk to the integrity of the country’s financial system and therefore, FIU-IND has published the list of such ‘non-compliant NBFCs which have not fulfilled their obligation under PML Act and Rules relating to non registration of Principal Officer’. The said list has been published by FIU-IND so as to enable the bankers to conduct enhanced due diligence of the transactions carried out by such NBFCs. Further, as per provisions of the PML Act and Rules, all NBFCs are required to intimate the details of their Designated Director to FIU-IND. (It may be noted that registration of RE and PO is only through the online mode, i.e. FINnet Gateway portal (https://finnet.gov.in/), while intimation of appointment / change of Designated Director is by way of a letter to FIU-IND).
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Dear friends, Trump just quietly changed the law — AGAIN
nksagar_1@yahoo.com
25 Mar. at 7:39 pm
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NAPM condemns the continued injustice to the workers
- NAPM condemns the continued injustice to the workers of Century Yarn/Denim mills in Madhya Pradesh.
- GOMP callous to the demands and companies commit contempt of I.T. order
- Suicide by young worker should compel the govt. to pay compensation, wages.
New Delhi | 25th March, 2018: The M.P. Government’s face stands exposed in the case of the 1200 workers and 400 staff members of Century Yarn/Denim at the hands of the companies and the Labour Commissioner,(M.P.). BJP, on one hand claims ‘Sabka Sath, Sabka Vikas’. While Workers of the Century mills are denied rightfully wages as the Century mills are fraudulently factories are sold to Wearit consortium, Kolkata. Authorities of the Madhya Pradesh Government in Indore, have remained biased and not used their powers fully to ensure justice to the workers.
With the intervention of the Narmada Bachao Andolan and worker’s unions, the agitating workers took their case to the Industrial Tribunal. The Tribunal, after hearing the case concluded that the agitation of the workers is justified and that the workers who sincerely carried out their duty with the century mills till it was functional, yet refused to work with Wearit, sale to whom is not proved to be genuine and legal, have not committed any wrong.
However, the CEO of the Wearit company denied all the demands of the workers even when the order of Industrial Tribunal is in the field. Workers, through trade unions finally filed a contempt case before the Tribunal. As a result of mass action and legal intervention, the Labour Commissioner was compelled to summon the company directors and issue orders for payment of 8 days wages when the workers produced and earned profit for Century. But the decision on the rest about 158 days payment is not taken yet. LC has certainly not used his powers effectively. The cases of contempt, reference for payment of wages by Century owners as ongoing employees etc are pending with the IT till date.
The companies, both Century and Wearit have, on the other hand, filed appeal cases against the above referred extensive order of the IT before the High Court of M.P., Indore. The hearings were concluded on February 7th, however no orders are passed till date. The Hon. High Court, when mentioned for early order, has categorically stated that it has not stayed the order of the I Tribunal, which stands.
The issue of payment of balance due in the case of 300 workers who were sacked unjustifiably, years ago, is also pending before the LC as well as I Tribunal.
Meanwhile, one of the united workers, continuing the struggle, Jitendra Dhangar, 27 years, committed suicide, finding it unbearable to manage his family with his brother’s wedding at the doorstep. On the day of funeral, police stopped women from reaching Jitendra’s house and garlanding the deadbody resorting to lathicharge hurting about 4/5 women led by Mahesh Dube, S.I. and abusing them with vulgar statement especially by Mr. Dinesh Kushvah, S.I.,Balakwada, Khaltaka. “Come to my house for Dhanda. Will get Rs.100.”
Many of the worker’s children have been shifted to government schools from private schools, in order to save expenses which too they are unable to manage. Families sufferings are borne by all, only with the commitment to the cause, that of checking the unruly, illegal transactions among the companies, at the cost of labour, their lives and livelihood.
We understand that thousands of adivasis from tehsil Manawar Distt. Dhar are also fighting a battle against unjust acquisition and displacement by the same Kumar mangalam Birlas, the owner of Ultratech Cement Company. We Support Their Struggle too.
We condemn the continued harassment of the workers and demand as below:
- Century mills should be opened, run and the workers should be permitted to work.
- The sale deed with Wearit, the fraudulent company, which is retrenching, harassing, exploiting (through late or no full payment) its workers in other factories nearby, should be declared as null and void.
- Full payment of wages for 8 days when work continued (already agreed by Century before the LC, Indore, yet not paid) with Century and wages for last 158 days of agitation must be made immediately.
- Payment of relief-cum-compensation up to 5 lakhs to the family members of Jitendra Dhangar.
- Both the companies must obey the order of the Tribunal, never stayed by the Hon. High Court.
- Take to urgent intervention, protecting the worker’s rights and ethics as well as rule of law in the affairs, management and transactions of the companies.
- No Forcible acquisition for mines or factory by Birlas and continue in the adivasi area & ‘PESA’ Act should be followed, seeking consent of Gramsabhas.
Unless the workers & adivasis are done justice & the above demands are fulfilled, NAPM will help the struggling masses intensity the struggle.
Medha Patkar, Narmada Bachao Andolan (NBA) and National Alliance of People’s Movements (NAPM)
Aruna Roy, Nikhil Dey and Shankar Singh, Mazdoor Kisan Shakti Sangathan (MKSS), National Campaign for People’s Right to Information, NAPM
Vilayodi Venugopal, Prof. Kusumam Joseph, Sharath Chelloor, John Peruvanthanam, V D Majeendran, Purushan Eloor, Suresh George, NAPM, Kerala
Prafulla Samantara, Lok Shakti Abhiyan; Lingraj Azad, Samajwadi Jan Parishad & Niyamgiri Suraksha Samiti, NAPM Odisha
Dr. Sunilam, Adv. Aradhna Bhargava, Kisan Sangharsh Samiti, NAPM, Madhya Pradesh
P.Chennaiah, Andhra Pradesh VyavasayaVruthidarula Union-APVVU, Ramakrishnam Raju, United Forum for RTI and NAPM, Meera Sanghamitra, Rajesh Serupally, NAPM Telangana – Andhra Pradesh
Dr Binayak Sen, Peoples’ Union for Civil Liberties (PUCL); Gautam Bandopadhyay, Nadi Ghati Morcha; KaladasDahariya, RELAA, NAPM Chhattisgarh
Kavita Srivastava, People’s Union for Civil Liberties (PUCL); Kailash Meena, NAPM Rajasthan
Sandeep Pandey, Socialist Party; Richa Singh, Sangatin; Arundhati Dhuru, Manesh Gupta, Suresh Rathor, Mahendra, NAPM, Uttar Pradesh
Gabriele Dietrich, Penn UrimayIyakkam, Madurai; Geetha Ramakrishnan, Unorganised Sector Workers Federation; Arul Doss, NAPM Tamilnadu
Sister Celia, Domestic Workers Union; Maj Gen (Retd) S.G.Vombatkere, NAPM, Karnataka
Anand Mazgaonkar, Swati Desai, Krishnakant, Paryavaran Suraksha Samiti, NAPM Gujarat
Vimal Bhai, Matu Jan sangathan; Jabar Singh, NAPM, Uttarakhand
Dayamani Barla, Aadivasi-MoolnivasiAstivtva Raksha Samiti; Basant Kumar Hetamsaria and Ashok Verma, NAPM Jharkhand
Samar Bagchi, Amitava Mitra, NAPM West Bengal
Suniti SR, Suhas Kolhekar, Prasad Bagwe, & Bilal Khan, Ghar Bachao Ghar Banao Andolan, Mumbai NAPM Maharashtra
Anjali Bharadwaj, National Campaign for People’s Right to Information (NCPRI), NAPM
Faisal Khan, KhudaiKhidmatgar; J S Walia, NAPM Haryana
Guruwant Singh, NAPM Punjab
Kamayani Swami, Ashish Ranjan, Jan Jagran Shakti Sangathan; Mahendra Yadav, Kosi Navnirman Manch; Sister Dorothy, Ujjawal Chaubey, NAPM Bihar
Bhupender Singh Rawat, Jan SangharshVahini; Sunita Rani, Domestic Workers Union; Rajendra Ravi, Nanhu Prasad, Madhuresh Kumar, Amit Kumar, Himshi Singh, Uma, NAPM, Delhi
For details contact : 9818905316 | email : napmindia@gmail.com
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