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JVG

SUBMITTED TO :
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SUBMITTED BY
  
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Ê Mr. Vijay Kumar Sharma chairman of JVG

Group.

Ê Sued for non payment.

Ê RBI banned all non-banking companies of

JVG Group (oct 1997).
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Ê Graduate from kurukshetra university.

Ê Started carrier as a contractor

Ê Material supplier to swadeshi polytex in 1979 .

Ê JVG group and their different company

Ê Political connection

Ê Increase in company turn over

Ê JVG enter in to FMCG Segment

Ê small-time contractor earning less than Rs
2500 a month, -Rs 1000 crore, in just seven
month.
Ê Known for his lavish lifestyle.
Ê most part of the JVG empire was created
largely from public fixed deposits.
Ê The JVG group's turnover increased from Rs
102 crore in 1994-95 to Rs 700 crore in 1995-
96.
Ê JVG Department Stores one of the largest
suppliers of commodities to the Government
of India.
Ê Sharma had grand plans for making JVG a
Rs 12000 crore empire by 2000.

 
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Ê On a complaint filed by the RBI, the Delhi
High Court ordered the winding up of the
company.

Ê The case the JVG scandal is intend to give a

detailed insight in to the fraud committed by the
JVG group of companies.

Ê The team arrested Sharma at a flat in Bandra, a

suburb in northwest Mumbai. In June 1999, after 16
months in jail.
Ê Sharma was granted bail on a personal bond of Rs
1 lakh and a surety of a similar amount and was
directed not to leave the country without the court's
permission.
ÿ 
Ê ëo company should exceed their limits
of public deposits.
Ê You have to inform RBI about the
changes in the composition of the board
of directors.
Ê RBI's petition also stated that the
company has to maintained liquid assets
as required by section 45IB of the RBI
Act, 1934.