L&T Infra Finance warns investors against 'unscrupulous' entities

Nov 11 2013, 14:00 IST
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SummaryL&T Infra Finance clarified that it has not authorised any entity for raising funds on its behalf.

L&T Infrastructure Finance Company today warned investors against 'unscrupulous' entities collecting money from them with promise of high returns on behalf of the company.

"...some unscrupulous persons/firms/establishments are misusing the goodwill and reputation of the company and collecting deposits in cash under the identification/similar trade name/trade logo as that of the company, thereby seeking to create false association with the company," L&T Infra Finance said in a public notice.

"They have been issuing fake receipts in the name of the company thereby luring the public and under the pretext of giving unreasonably high returns receiving deposits in the name of the company," it added.

L&T Infra Finance clarified that it is not collecting funds in any manner and has not authorised any entity for raising funds on its behalf.

It said the company has no connection with these entities who are taking advantage of gullible people.

The company cautioned public "not to deal with such persons/firms/establishments and not to be swayed or mislead by their representations".

It requested investors to provide details about such entities, in case, anyone has any knowledge about them so that the company can take appropriate legal action against them.

"...the company is contemplating stern legal action including criminal proceedings in this regard," it said.

L&T Infra Finance is in the business of providing financial products and services to its customers engaged in infrastructure development and construction, with a focus on power, roads, telecom, oil and gas and ports sectors, in the country.

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