Rejection of application for certificate of registration - ఆర్బిఐ - Reserve Bank of India
Rejection of application for certificate of registration
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Sarvamangla Housing & Finance Ltd., A.P.Bhawan, Korba, Dist - Bilaspur, Chattisgarh, Pin-495677
As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Act. The company has also been prohibited from acceptance of deposits under Section 45MB(1) and prohibited from alienation of assets under Section 45MB(2) of the Act without the prior permission of the Reserve Bank.
P.V. Sadanandan
Manager
Press Release : 2001-02/1044
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