Application for grant of Certificate of Registration rejected

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Published on October 15, 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:

Sr.No.	Name of the Company	Rejected on
1.	M/s. Siddarth Motor Finance Pvt. Ltd., 488-6A, Opp. DTC Bus Terminal, Dilshad Garden, Delhi-110 095	13.10.1999
2.	M/s. Damayanti Credit & Financial Services (P) Ltd., D.No. 57-1-20, B-1, 1^st floor, Kancharapalem Main Road, Visakhapatnam	13.10.1999
3.	M/s. Devesh Trade Credit Pvt. Ltd., 113, Park Street, Calcutta-700 016.	13.10.1999
4.	M/s. Damania Capital Markets Ltd. Akbar Press Property, Station Road, Ahmednagar-414001, Maharashtra	11.10.1999

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 : 1999-2000/522