RBF Nidhi's repayment plan

The Chennai-based RBF Nidhi Ltd has sought the Company Law Board's approval to start repaying depositors.

The repayment is to be made in instalments, the first being equal to 10 per cent of the money deposited. The first instalment is proposed to be paid by mid-May.

The Government plans to enact a new omnibus legislation aimed at protecting the interests of the investors, who have been cheated crores of rupees by corporate firms and non-banking finance companies.