Reserve Bank Rejects Application for Certificate of Registration of M/s Sahu Mutual Benefit & Finance Ltd. - ಆರ್ಬಿಐ - Reserve Bank of India
Reserve Bank Rejects Application for Certificate of Registration of
M/s Sahu Mutual Benefit & Finance Ltd.
The Reserve Bank of India has on December 18, 2008 rejected the application for certificate of registration of M/s Sahu Mutual Benefit & Finance Ltd., Sahu Theatre Building, Hazratganj, Lucknow for carrying on the business of a non-banking financial institution. Following rejection of the application for certificate of registration M/s Sahu Mutual Benefit & Finance Ltd., cannot transact the business of a non-banking financial institution. The Reserve Bank can reject the application for Certificate of Registration of a non-banking financial company under powers conferred by Section 45-IA (6) of the Reserve Bank of India Act, 1934. 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 Press Release : 2008-2009/1078 |