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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, 1st 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

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