Reserve Bank Cancels Certificate of Registration of Zuari Leasing and Finance Corporation Limited, Goa - ಆರ್ಬಿಐ - Reserve Bank of India
Reserve Bank Cancels Certificate of Registration of Zuari Leasing and Finance Corporation Limited, Goa
The Reserve Bank of India, has cancelled the certificate of registration issued to Zuari Leasing and Finance Corporation Limited, Jai Kisaan Bhavan, Zuarinagar, Goa for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of non-banking financial institution pursuant to its amalgamation with M/s Zuari Industries Ltd., Goa.
Under powers conferred by Section 45IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company.
Under Section 45 MB(1) of this Act, the Reserve Bank can prohibit non-banking financial company from accepting deposits. 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 : 2003-2004/1139