Indonesia’s Monetary Providers Authority (OJK) has revoked the enterprise license of PT Investree Radhika Jaya (Investree), a peer-to-peer lending platform.
The choice was made because of Investree’s failure to satisfy minimal fairness necessities and different regulatory provisions.
The corporate additionally skilled operational difficulties and declining efficiency that impacted its providers.
OJK had beforehand issued warnings and imposed exercise restrictions, urging Investree to handle its fairness points, safe new funding, and enhance its efficiency.
Nevertheless, these measures had been unsuccessful, resulting in the revocation of the license.
Along with the license revocation, Investree is prohibited from transferring or obscuring firm property, aside from fulfilling authorized obligations, and should resolve worker rights consistent with employment legal guidelines.
The corporate can be required to carry a common assembly of shareholders (GMS) inside 30 days to type a liquidation staff and dissolve the corporate.
OJK has additionally taken authorized motion in opposition to key people, together with Adrian Asharyanto Gunadi, who’s prohibited from holding key roles in monetary establishments.
The regulator shared that asset tracing and potential authorized proceedings are underway.
Gunadi was alleged to have diverted funds from Investree to his private account and used his place to make the lending agency a guarantor for a private firm.
OJK can be working to get better property and make sure the safety of Investree’s prospects.
Investree is now required to stop all enterprise operations, settle its obligations to staff and prospects, and type a liquidation staff.
Prospects can contact Investree for help with excellent points.
Featured picture credit score: Edited from Freepik
