Reserve Bank Cancels Certificate of Registration of Ashoka Safe Deposit Vault Company Limited, Nagpur - આરબીઆઈ - Reserve Bank of India
Reserve Bank Cancels Certificate of Registration of Ashoka Safe Deposit Vault Company Limited, Nagpur
The Reserve Bank of India, has on July 27, 2004 cancelled the certificate of registration granted to Ashoka Safe Deposit Vault Company Limited (formerly Nagpur Credit Card & Lease Investment Company) having its registered office at Ashoka Locker Building, 379 Pandit Jawaharlal Nehru Marg, Sitaburdi, Nagpur-440 012 for carrying on the business of a non-banking financial institution.
Following cancellation of registration certificate, Ashoka Safe Deposit Vault Company Limited cannot transact the business of a non-banking financial institution.
Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. The business of a non-banking financial institutions is defined in clause (a) of Section 45IA of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release: 2004-2005/286