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55056031

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 certificate of registration submitted by the undernoted financial companies:

Sr.No.

Name of the Company

Rejected on

1.

M/s. Babu Venni Lakshmi Finvest Pvt. Ltd.,
34-E/12, Morappur Main Road, Kambainallur, Harur Taluk,
Dharmapuri Dist., Tamil Nadu-635 202.

19.7.1999

2.

M/s. Borsad Fincap Ltd.,
5, Shivam Society, Tomavata Road, Borsad-388 450.

19.7.1999

3.

M/s. Pancom Investments Pvt. Ltd.,
5-9-12, 1st Floor, Samrat Complex, Saifabad, Hyderabad-500 004.

19.7.1999

4.

M/s. Upendra Finance Pvt. Ltd.,
73-A, 1st Floor, Salai Road, Thillai Nagar, Tiruchirapalli-620 018.

19.7.1999

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

Rupambara Padhi
Manager

Press Release : 1999-2000/105

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