Reserve Bank Cancels Certificate of Registration of Microland Investments Private Limited - ربی - Reserve Bank of India
Reserve Bank Cancels Certificate of Registration of
Microland Investments Private Limited
The Reserve Bank of India has on May 20, 2008 cancelled the certificate of registration granted to Microland Investments Private Limited having its registered office at No.1B, Ecospace, Belandur Outer Ring Road, Banalore-560037 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of a non-banking financial institution. Following cancellation of the registration certificate, Microland Investments Private Limited, cannot transact the business of a non-banking financial institution. Under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of a non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934. Ajit Prasad |