Manappuram Finance clarifies, says ED action against promoter, not company

Kerala-based non-bank lender Manappuram Finance Ltd, in a stock exchange filing on Friday clarified that the Enforcement Directorate's action against its promoter VP Nandakumar is not linked to the affairs of the listed entity. Manappuram's promoter, V.P. Nandakumar, said in the notification that the probe was not related to the company but a private entity called Manappuram Agro Farms, which is no longer in existence.

from Banking/Finance-Industry-Economic Times https://ift.tt/eh1Ibl3