Reserve Bank Cancels Certificate of Registration of Ratnanidhi Finsec Private Limited, Hyderabad - RBI - Reserve Bank of India
Reserve Bank Cancels Certificate of Registration of Ratnanidhi Finsec Private Limited, Hyderabad
The Reserve Bank of India, has on July 4, 2005 cancelled the certificate of registration issued to Ratnanidhi Finsec Private Limited having its registered office at 9-131/8, H. M. T. Nagar, Street No.5, Nacharam, Hyderabad-500 076 (since shifted to) 9-7/1, H.M.T.Nagar, Opposite Hanuman Temple, Main Road, Nacharam, Hyderabad-500 076 for carrying on the business of a non-banking financial institution.
Under powers conferred by Section 45-IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-IA of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release : 2005-2006/52