The Reserve Bank of India has prohibited M/s. Integrated Finance Company Limited, `Vairams', 112, Sir Thyagaraya Road, T. Nagar, Chennai-600 017, from accepting any deposits, from any person, in any form, whether by way of fresh deposits or renewal, of the existing deposits or otherwise, until further orders.

The Reserve Bank has also prohibited M/s. Integrated Finance Co. Ltd., in public interest, not to sell, transfer, create charge or mortgage or deal in any manner with its properties and assets, without its prior written permission.

The Reserve Bank has issued these orders in exercise of powers conferred on it under Section 45MB (1) and (2) of the Reserve Bank of India Act, 1934.