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Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted financial companies:

Sr.No.

Name of the Company

Rejected on

1.

M/s. Okara Mutual Benefit Limited,
1557, Church Road, Kashmere Gate, New Delhi-110 006.

22.12.1998
     

2.

M/s. Okara Securities Limited,
1557, Church Road, Kashmere Gate, New Delhi-110 006.

22.12.1998
     

3.

M/s. Okara Leasing & Investment Limited,
1557, Church Road, Kashmere Gate, New Delhi-110 006.

22.12.1998

As such, the above companies cannot transact the business of non-banking financial institutions as defined in Clause (a) of Section 45 I of the Reserve Bank of India Act, 1934.

 

S. R. Singh
Manager

Press Release : 1998-99/835

 

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