Himalayan Investment Banker has issued a final notice to Bhrikuti Stock Broking Company (Broker No. 55) to refund Rs. 22.25 crore related to HLI Large Cap Fund within seven days, warning of legal action.
Himalayan Investment Banker Limited has issued a final reminder notice to Bhrikuti Stock Broking Company (Broker No. 55), directing it to refund a total amount of Rs. 22 crore 25 lakh 73 thousand 590.51 related to the HLI Large Cap Fund.
According to the notice, despite multiple instances of providing funds for share purchase, the broker company has neither completed the purchase of shares nor returned the remaining amount. The issue manager has stated that repeated requests for repayment have gone unaddressed.
The company has instructed the broker to refund the full amount, along with applicable interest and penalties, within seven days from the date of publication of the notice. Failure to comply within the deadline will result in legal proceedings against the brokerage firm and its directors, the notice stated.
Himalayan Investment Banker also mentioned that despite several earlier reminders, the broker has shown no intention of settling the outstanding amount.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
