MUMBAI, July 14: The Reserve Bank of India (RBI) has prohibited Patna-based Helios Finance and Investment Ltd and Helios Corporation Ltd from accepting deposits from the public with immediate effect.According to an RBI release, the two companies have also been directed not to dispose of any assets, including withdrawal of bank deposits/securities lodged with banks/kept with themselves, even for the purpose of payment of the dues to their depositors/certificate holders.The RBI banned the companies in exercise of the powers vested in it under sub-section(4) of section 45 K of the RBI Act, 1934.The RBI had earlier issued show-cause notices to the two Helios group firms for various discrepancies in their operations. The Patna office of the RBI had recommended action against Helios several weeks ago. But the RBI action has come only now.The RBI had already banned Global Finance Corporation, CRB Capital and Asia Pacific Investment from accepting deposits.
