The Securities Commission has almost completed its investigation into the Hanover Finance along with United Finance and Hanover Capital. It said that the status of the investigation is in public interest as through it public and media speculations are going to increase manifolds.

The time, said SEC, was taken because the investigation was too complex and since it needed services of a whole team of investigators. These were experts from different teams and included forensic accountants, financial analysts and lawyers.

The time set up till now is Christmas and during this time it will be decided whether criminal charges are going to be laid against the directors or not. SEC has come out of the status and a statement since it has been publicly criticized for not being able to reach out to any conclusion.

While charges against Hanover Finance and Allied Farmers are that they have got their assets 'mismanaged'. For United Finance is that the value has gone down phenomenally in the accounts of the company.

Because of the falling value of the assets, the banks that have given loans to these firms are facing tough NPA levels.