FSC Appoints an Administrator to Nirvi Management Company and Lotus Fund

10 years, 11 months ago - April 20, 2013
FSC Appoints an Administrator to Nirvi Management
Two days after the suspension of operating permits Nirvi Management Company and Lotus Fund , the Financial Services Commission (FSC) has appointed an administrator. Xavier Koenig particular ensure the interests of clients.

FSC appointed on Friday afternoon April 19, an administrator to take control of two investment companies, "Nirvi Management Ltd." and "Lotus Fund Ltd." located Folly Road, Grand Bay. Xavier Koenig from CK Insol. Services Ltd , will be responsible for conducting an audit trail on investment injected into two entities, whether the interests of customers were affected and if this is the case recover their investments.

This decision follows the suspension of licenses of two companies Wednesday. The regulator found that they do not operate " in good rules " according section 27 of the Financial Services Act . This clause is applied mainly to prevent damage in the middle of the financial sector and to protect customers as well as the reputation of Mauritius.

Both entities were operating against the interests of their customers, "said the communication service controller. They operated under the Collective Investments Schemes 

 

Text by lexpress.mu

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