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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 a certificate of registration submitted by the undernoted financial companies:

Sr.No.

Name of the Company

Rejected on

1.

ABB Securities & Finance Ltd.,
Eagle Building, Basistha Road, Beltola, Guwahati.

24.8.1999

2.

The Cidown Finance & Builders Pvt. Ltd.,
207-B, Shri Krishna Puri, Boring Road, Patna-800 001.

24.8.1999

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 : 1999-2000/293

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