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Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted non-banking financial companies:

Sr.No.

Name of the Company

Address of the Registered Office
of the Company

Rejected on

1.

M/s. S. M. Finance Ltd.

No.6, Upper Ground Floor, Nalanda
Apartment, Somajiguda, Hyderabad-500 082

09.01.1999

 

 

 

 

2.

M/s. Madhusudan Leasing & Finance Ltd.

6/A-2, Court Chambers, 35, New Marine Lines, Mumbai 400 020.

11.01.1999

As such, the above companies cannot transact the business of non-banking financial institutions as defined in Clause (a) of Section 45 I of the Reserve Bank of India Act, 1934.

 

S. R. Singh
Manager

Press Release : 1998-99/920

 

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