The Reserve Bank of India has rejected the application for certificate of registration of M/s. Asit C. Mehta Financial Services Limited, having its registered office at Nucleus House, Saki Vihar Road, Andheri (East), Mumbai - 400 072 for carrying on the business of a non-banking financial institution. Following rejection of the application for certificate of registration M/s. Asit C. Mehta Financial Services Limited cannot transact the business of a non-banking financial institution.

By the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the Reserve Bank can reject the application for registration certificate of a non-banking financial company. 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
Manager

Press Release : 2009-2010/798