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Reserve Bank Cancels Certificate of Registration of M/s Shri Subhlaxmi Finvest Limited, Surendranagar

The Reserve Bank of India, has on October 25, 2004 cancelled the certificate of registration granted to M/s Shri Subhlaxmi Finvest Limited having its registered office at D/1, Yogi Shopping Centre, Main Road, Surendranagar-363001 for carrying on the business of a non-banking financial institution.

Following cancellation of registration certificate, M/s Shri Subhlaxmi Finvest Limited, cannot transact the business of a non-banking financial institution.

Under powers conferred by Section 45-IA 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: 2004-2005/455

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