"M/s Ennoble India Savings and Investment Co.Ltd., having its Registered Office at 6(4), Raghavachari Road, Opposite Radhika Theatre, Bellary -583 101, has violated various provisions of Reserve Bank of India’s Directions relating to acceptance of deposits, investment in approved securities and submission of stipulated returns to the Bank. The financial position of the Company is not satisfactory and its Net Owned Fund has turned negative. The bank has, therefore, prohibited the Company with effect from October 05, 1998 from accepting deposits from any person including the existing depositors /certificate holders, in any form whether by way of subscriptions / instalments to any scheme conducted by the Company or by way of renewal of deposit or otherwise."