Reserve Bank Cancels Certificate of Registration of Pondicherry Nidhi Limited - ଆରବିଆଇ - Reserve Bank of India
Reserve Bank Cancels Certificate of Registration of Pondicherry Nidhi Limited
The Reserve Bank of India, has on September 14, 2005 cancelled the certificate of registration granted to Pondicherry Nidhi Limited, having its registered office at 189, Mission Street, Pondichery-605001 for carrying on the business of a non-banking financial institution.
Following cancellation of registration certificate, Pondicherry Nidhi Limited cannot transact the business of a non-banking financial institution..
Under powers conferred by Section 45-IA (6) 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 institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release: 2005-2006/369