Application for grant of Certificate of Registration rejected

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Published on May 26, 1999

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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:

	Name of the Company	Rejected on

1.	M/s Reliable Securities Ltd., 1-10-73/2, III Floor, Lumbini Arcade, Begumpet, Hyderabad 500 016.	24.5.1999

2.	The Bihar Capital Financiers Ltd., A/91, P.C. Colony, Kankar Bagh, Patna-20.	25.5.1999

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 RBI Act, 1934.

Rupambara Padhi
Manager
Press Release : 1998-99/1459