Fire at Stock Holding Corp’s back office in Navi Mumbai

Team Udayavani, Dec 12, 2017, 3:13 PM IST

Thane: A fire broke out at the back office of the Stock Holding Corporation in Navi Mumbai, a fire official said today. The office is situated in the Maharashtra Industrial Development Corporation (MIDC) area near the Trans-Thane Creek and houses investor data for the exchanges.

Over 10 fire tenders were rushed to the spot to extinguish the fire that began last evening. The flames are yet to be doused, MIDC fire station officer R B Patil said. The company could not be contacted immediately.

As per preliminary reports, the fire broke out due to a short-circuit and spread to the basement, Patil said. Stock Holding Corporation is the largest custodial and depository services provider acting as an intermediary between the stock market investors, brokers and exchanges.

Set up in 1986 as a public limited company, it is jointly promoted by leading banks and financial institutions and is a subsidiary of IFCI.