Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Sep 05, 2002
Rejection of application for certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has rejected on September 2, 2002 the application for certificate of registration submitted by Todi Hire Purchase & Lease Finance Ltd., having its registered office at 1/1, Camac Street, 3rd Floor, Kolkata-700 016, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busin
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has rejected on September 2, 2002 the application for certificate of registration submitted by Todi Hire Purchase & Lease Finance Ltd., having its registered office at 1/1, Camac Street, 3rd Floor, Kolkata-700 016, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busin
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Sep 03, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on August 30, 2002 the application for certificate of registration submitted by M/s. S. C. M. Fintrade Private Limited, 210 Mohan Palace, Saraswati Vihar, Delhi-110 034 to commence the business of a Non-Banking Financial Institution. As such, the above company cannot trans
It is hereby notified for the information of public that 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 on August 30, 2002 the application for certificate of registration submitted by M/s. S. C. M. Fintrade Private Limited, 210 Mohan Palace, Saraswati Vihar, Delhi-110 034 to commence the business of a Non-Banking Financial Institution. As such, the above company cannot trans
Sep 02, 2002
Rejection of application for certificate of registration
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 on August 31, 2002 the application for certificate of registration submitted by Pear Life India Limited, Surya Complex, Vellorkunnam Junction, Muvattupuzha, Kerala-686 673, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
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 on August 31, 2002 the application for certificate of registration submitted by Pear Life India Limited, Surya Complex, Vellorkunnam Junction, Muvattupuzha, Kerala-686 673, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
Aug 28, 2002
Certificate of Registration Cancelled
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled on August 26, 2002 the certificate of registration issued to Shravani Financial Services Private Limited (formerly known as Pesala Financial Services Limited), 302, Lumbini Enclave, 6-3-665, Punjagutta, Hyderabad-500 082, to carry on the business of a Non-Banking Finan
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled on August 26, 2002 the certificate of registration issued to Shravani Financial Services Private Limited (formerly known as Pesala Financial Services Limited), 302, Lumbini Enclave, 6-3-665, Punjagutta, Hyderabad-500 082, to carry on the business of a Non-Banking Finan
Aug 27, 2002
Rejection of application for certificate of registration
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 on August 26, 2002 the application for certificate of registration submitted by Kaimur Finance Limited, K-Max Building, Suguna More, Patna-800 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
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 on August 26, 2002 the application for certificate of registration submitted by Kaimur Finance Limited, K-Max Building, Suguna More, Patna-800 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
Aug 26, 2002
Rejection of application for certificate of registration
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 on August 23, 2002 the application for certificate of registration submitted by Coimbatore Lakshmi Investment and Finance Company Limited, Krishna Towers, 1087-D, Avanashi Road, Coimbatore-641 037, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a no
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 on August 23, 2002 the application for certificate of registration submitted by Coimbatore Lakshmi Investment and Finance Company Limited, Krishna Towers, 1087-D, Avanashi Road, Coimbatore-641 037, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a no
Aug 26, 2002
Rejection of application for certificate of registration
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 on August 22, 2002 the application for certificate of registration submitted by Jedi Investments and Finances Limited, Madikeri, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
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 on August 22, 2002 the application for certificate of registration submitted by Jedi Investments and Finances Limited, Madikeri, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
Aug 26, 2002
Rejection of application for certificate of registration
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 on August 23, 2002 the application for certificate of registration submitted by Karnataka Financial Services Limited, Bangalore, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
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 on August 23, 2002 the application for certificate of registration submitted by Karnataka Financial Services Limited, Bangalore, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
Aug 23, 2002
Rejection of application for certificate of registration
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 on August 20, 2002 the application for certificate of registration submitted by Fairgrowth Investments Limited, Chakravarthy Complex, 3rd floor, 53-58, Sajjan Rao Circle, V.V. Puram, Bangalore-560 004, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of
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 on August 20, 2002 the application for certificate of registration submitted by Fairgrowth Investments Limited, Chakravarthy Complex, 3rd floor, 53-58, Sajjan Rao Circle, V.V. Puram, Bangalore-560 004, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of
Aug 19, 2002
Rejection of application for certificate of registration
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 on July 24, 2002 the application for certificate of registration submitted by M/s. V. B. Desai Financial Services Ltd., Cama Building, 24/26 Dalal Street, Fort, Mumbai 400 001, Maharashtra. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
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 on July 24, 2002 the application for certificate of registration submitted by M/s. V. B. Desai Financial Services Ltd., Cama Building, 24/26 Dalal Street, Fort, Mumbai 400 001, Maharashtra. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
Aug 14, 2002
Cancellation of the certificate of registration
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled on August 13, 2002 the certificate of registration issued to Trans India Financial Services Limited, A-G4, "Metro Palmgrove", Phase II Apartments, Rajbhavan Road, Somajiguda, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution. As such, t
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled on August 13, 2002 the certificate of registration issued to Trans India Financial Services Limited, A-G4, "Metro Palmgrove", Phase II Apartments, Rajbhavan Road, Somajiguda, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution. As such, t
Aug 07, 2002
Certificate of Registration Cancelled as surrendered
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on August 6, 2002 the certificate of registration issued to Capital Fortunes Ltd., 6-3-649/1, Nalanda Apartments, Medinova Complex, Somajiguda, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution. As such, the above company
It is hereby notified for the information of public that the Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has cancelled as surrendered on August 6, 2002 the certificate of registration issued to Capital Fortunes Ltd., 6-3-649/1, Nalanda Apartments, Medinova Complex, Somajiguda, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution. As such, the above company
Jul 30, 2002
Rejection of application for certificate of registration
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 on July 18, 2002 the application for certificate of registration submitted by NCC Finance Limited, 41, Nagarjuna Hills, Hyderabad-500 082, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of
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 on July 18, 2002 the application for certificate of registration submitted by NCC Finance Limited, 41, Nagarjuna Hills, Hyderabad-500 082, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of
Jul 25, 2002
Rejection of application for certificate of registration
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 on July 23, 2002 the application for certificate of registration submitted by M/s. Singla Motor Finance Company Limited, SCO-1, 1st floor, Sector 11, Panchkula, Haryana, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial instituti
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 on July 23, 2002 the application for certificate of registration submitted by M/s. Singla Motor Finance Company Limited, SCO-1, 1st floor, Sector 11, Panchkula, Haryana, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial instituti
Jul 20, 2002
Cancellation of the certificate of registration
July 20, 2002It is hereby notified for the information of public that 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 cancelled on July 18, 2002 the certificate of registration issued to Model Financial Corporation Limited, Model House, 6-3-456/A/1, Panjagutta, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution.As such, the above company cannot transact
July 20, 2002It is hereby notified for the information of public that 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 cancelled on July 18, 2002 the certificate of registration issued to Model Financial Corporation Limited, Model House, 6-3-456/A/1, Panjagutta, Hyderabad-500 082, to carry on the business of a Non-Banking Financial Institution.As such, the above company cannot transact
Jul 11, 2002
Non-Banking Non-Financial Companies need not submit deposit returns to RBI
The Reserve Bank of India has reiterated that non-banking non-financial companies need not submit to it the return of deposits. In terms of the provisions contained in the Companies Act, 1956, the non-banking non-financial companies are required to submit the return on deposits mobilised by them to the Registrar of Companies. Copies of these returns were also being received in the Reserve Bank for statistical purpose. It had however, discontinued the system of receivi
The Reserve Bank of India has reiterated that non-banking non-financial companies need not submit to it the return of deposits. In terms of the provisions contained in the Companies Act, 1956, the non-banking non-financial companies are required to submit the return on deposits mobilised by them to the Registrar of Companies. Copies of these returns were also being received in the Reserve Bank for statistical purpose. It had however, discontinued the system of receivi
Jul 06, 2002
Rejection of application for certificate of registration
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 on July 4, 2002 the application for certificate of registration submitted by Sanklecha Capfin Ltd., Bhati Market, Mandia Road, Pali, Marwar-306 401. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The
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 on July 4, 2002 the application for certificate of registration submitted by Sanklecha Capfin Ltd., Bhati Market, Mandia Road, Pali, Marwar-306 401. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The
Jun 22, 2002
Rejection of application for certificate of registration
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 on June 19, 2002 the application for certificate of registration submitted by Kapil Ganga Credit India Ltd., Kapil Ganga Bhavan, Avas Vikas, Basti, Uttar Pradesh. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India A
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 on June 19, 2002 the application for certificate of registration submitted by Kapil Ganga Credit India Ltd., Kapil Ganga Bhavan, Avas Vikas, Basti, Uttar Pradesh. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India A
Jun 18, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on June 8, 2002 the application for certificate of registration submitted by M/s. Sitaram Hire Purchase Limited, 10-Netaji Market, G. T. Road, Panipat-132103, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact th
It is hereby notified for the information of public that 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 on June 8, 2002 the application for certificate of registration submitted by M/s. Sitaram Hire Purchase Limited, 10-Netaji Market, G. T. Road, Panipat-132103, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact th
Jun 15, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on June 12, 2002 the application for certificate of registration submitted by Tamilnadu Finance Ltd., No.5, Ground Floor, Gokul Tower, 9/10, C.P. Ramaswamy Road, Alwarpet, Chennai-600 018, for carrying on the business of a Non-Banking Financial Institution. As such, the ab
It is hereby notified for the information of public that 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 on June 12, 2002 the application for certificate of registration submitted by Tamilnadu Finance Ltd., No.5, Ground Floor, Gokul Tower, 9/10, C.P. Ramaswamy Road, Alwarpet, Chennai-600 018, for carrying on the business of a Non-Banking Financial Institution. As such, the ab
Jun 15, 2002
Rejection of applications for certificate of registration
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 certificate of registration submitted by the following non-banking financial companies: Name of the CompanyRejected on 1) Zee Mutual Benefits LimitedMay 23, 2002 Rashidi Gaus Market, Koharapeer, Bareilly (U.P.) 2) Jindal Instalment Supply Co. Pvt. Ltd., Civil Lines, RampurMay 21, 2002 3) Jeevan Sahara Mutual
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 certificate of registration submitted by the following non-banking financial companies: Name of the CompanyRejected on 1) Zee Mutual Benefits LimitedMay 23, 2002 Rashidi Gaus Market, Koharapeer, Bareilly (U.P.) 2) Jindal Instalment Supply Co. Pvt. Ltd., Civil Lines, RampurMay 21, 2002 3) Jeevan Sahara Mutual
Jun 13, 2002
RBI Cancellation of Registration licence application of Maha Rashtra Apex Corporation Limited
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on June 13, 2002 the certificate of Registration granted to Maha Rashtra Apex Corporation Limited having its registered office at Syndicate House, Manipal-576 119, Udupi District, Karnataka. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has cancelled on June 13, 2002 the certificate of Registration granted to Maha Rashtra Apex Corporation Limited having its registered office at Syndicate House, Manipal-576 119, Udupi District, Karnataka. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45
Jun 06, 2002
NBFC Auditors Directed to Verify Continued Compliance of Capital Adequacy Ratio Requirement
The Reserve Bank of India today amended the formats of the certificates to be furnished by the NBFCs and their auditors in the half yearly return on prudential norms (Form NBS-2). The auditors would now have to certify that the capital adequacy ratio has been maintained by these companies on an on-going basis. The Reserve Bank has clarified that if there is a violation of this requirement by any company, the auditors of these companies should indicate such violation i
The Reserve Bank of India today amended the formats of the certificates to be furnished by the NBFCs and their auditors in the half yearly return on prudential norms (Form NBS-2). The auditors would now have to certify that the capital adequacy ratio has been maintained by these companies on an on-going basis. The Reserve Bank has clarified that if there is a violation of this requirement by any company, the auditors of these companies should indicate such violation i
May 27, 2002
Rejection of application for certificate of registration
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 on May 9, 2002 the application for certificate of registration submitted by M/s. VJS Investments Private Ltd., Shop A-1, Piyush Apartment, Siddhi Vinayak Hospital Lane, Navghar Road, Bhayander (E), Dist. Thane, Pin-401 105, Maharashtra. As such, the above company cannot transact the business of a non-banking financial institutio
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 on May 9, 2002 the application for certificate of registration submitted by M/s. VJS Investments Private Ltd., Shop A-1, Piyush Apartment, Siddhi Vinayak Hospital Lane, Navghar Road, Bhayander (E), Dist. Thane, Pin-401 105, Maharashtra. As such, the above company cannot transact the business of a non-banking financial institutio
May 22, 2002
Rejection of application for certificate of registration
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 on May 17, 2002 the application for certificate of registration submitted by M/s. Maharashtra Motors (Mumbai) Ltd., (formerly Mohindra Motorparts Ltd.), 317, Sanghrajka House, 3rd Floor, 413, Lemington Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined
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 on May 17, 2002 the application for certificate of registration submitted by M/s. Maharashtra Motors (Mumbai) Ltd., (formerly Mohindra Motorparts Ltd.), 317, Sanghrajka House, 3rd Floor, 413, Lemington Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined
May 21, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Maniram Consultants & Investment Pvt Ltd., 143, Mittal Court `A' Wing, Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of th
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Maniram Consultants & Investment Pvt Ltd., 143, Mittal Court `A' Wing, Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of th
May 21, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Capitals Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Capitals Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve
May 21, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Consultants Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reser
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Consultants Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reser
May 21, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Developments Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Rese
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Developments Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Rese
May 21, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Projects Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Sanwa Projects Private Limited, Jayem House, 97/99, Bombay Samachar Marg, Fort, Mumbai 400 023. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve
May 20, 2002
Rejection of applications for certificate of registration
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 certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on Shadhvi Capital & Finance Ltd.,May 9, 2002Kaveri Centre, Sanjay Palace, Agra (Uttar Pradesh) Jai Santoshi Instalment Company Pvt. Ltd.,May 15, 2002Rahe Raza, Civil Lines, Rampur (Uttar Pr
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 certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on Shadhvi Capital & Finance Ltd.,May 9, 2002Kaveri Centre, Sanjay Palace, Agra (Uttar Pradesh) Jai Santoshi Instalment Company Pvt. Ltd.,May 15, 2002Rahe Raza, Civil Lines, Rampur (Uttar Pr
May 20, 2002
All RBI regulated Entities to hold G-Secs in Demat Form
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
The Reserve Bank of India, has been, over a period of time, encouraging holding of government securities in dematerialised form. At present 99% of the trading in government securities takes place through SGL accounts with RBI for which the Delivery versus Payment (DVP) system ensures simultaneous transfer of securities against funds. In the light of recent fraudulent transactions in the guise of Government securities transactions in physical format by a few co-operati
May 18, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. EDTV India Ltd. (Formerly known as Euro Discover India Limited), 143, Mittal Court `A', Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Sectio
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 on May 15, 2002 the application for certificate of registration submitted by M/s. EDTV India Ltd. (Formerly known as Euro Discover India Limited), 143, Mittal Court `A', Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Sectio
May 18, 2002
Rejection of application for certificate of registration
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Ficom Industries Limited, 162, Maker Chambers III, 223, Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of I
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 on May 15, 2002 the application for certificate of registration submitted by M/s. Ficom Industries Limited, 162, Maker Chambers III, 223, Nariman Point, Mumbai 400 021. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of I
May 10, 2002
Rejection of application for certificate of registration
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 on May 6, 2002 the application for certificate of registration submitted by M/s. Swar Shilp Finvest Private Limited, Second Floor, Above Sanket Classes, Jodhpur Char Rasta, Ahmedabad-380015.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
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 on May 6, 2002 the application for certificate of registration submitted by M/s. Swar Shilp Finvest Private Limited, Second Floor, Above Sanket Classes, Jodhpur Char Rasta, Ahmedabad-380015.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
May 06, 2002
Rejection of applications for certificate of registration
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 on April 30, 2002 the application for certificate of registration submitted by M/s. Ganga Leafin & Holdings Limited, H. No.2-5-282, Nakkalagutta, Hanamkonda-506 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institut
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 on April 30, 2002 the application for certificate of registration submitted by M/s. Ganga Leafin & Holdings Limited, H. No.2-5-282, Nakkalagutta, Hanamkonda-506 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institut
May 04, 2002
Cancellation of the certificate of registration
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 on April 9, 2002 cancelled the certificate of registration granted to Cobol Management Pvt. Limited having its registered office at 4, Synagogue Street (Room No.903), Kolkata-700 001, for carrying on the business of a non-banking financial institution. As such, the above company cannot transact the business of a non-banking financial ins
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 on April 9, 2002 cancelled the certificate of registration granted to Cobol Management Pvt. Limited having its registered office at 4, Synagogue Street (Room No.903), Kolkata-700 001, for carrying on the business of a non-banking financial institution. As such, the above company cannot transact the business of a non-banking financial ins
May 03, 2002
Rejection of application for certificate of registration
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 on April 29, 2002 the application for certificate of registration submitted by M/s. Vivek-Mir Financial Management Pvt. Ltd., 401-A, Vishwa Sadan, 9, District Centre, Janak Puri, New Delhi-110 058. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
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 on April 29, 2002 the application for certificate of registration submitted by M/s. Vivek-Mir Financial Management Pvt. Ltd., 401-A, Vishwa Sadan, 9, District Centre, Janak Puri, New Delhi-110 058. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4
Apr 30, 2002
Rejection of applications for certificate of registration
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 on April 19, 2002 the application for certificate of registration submitted by Sushma Finance Pvt. Ltd., P.O. Mohibullapur, Lucknow, Uttar Pradesh, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
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 on April 19, 2002 the application for certificate of registration submitted by Sushma Finance Pvt. Ltd., P.O. Mohibullapur, Lucknow, Uttar Pradesh, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
Apr 30, 2002
Rejection of applications for certificate of registration
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 certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on Harmony Capital Services Ltd.,April 18, 2002 1. F-20, B-Shankar Path, Todarmal Marg, Bani Park, Jaipur-302 006.2. Flat No.278, Vijay Path No.6, Dher Ka Balaji, Jaipur-302 012. As such, the ab
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 certificate of registration submitted by the following non-banking financial companies:Name of the CompanyRejected on Harmony Capital Services Ltd.,April 18, 2002 1. F-20, B-Shankar Path, Todarmal Marg, Bani Park, Jaipur-302 006.2. Flat No.278, Vijay Path No.6, Dher Ka Balaji, Jaipur-302 012. As such, the ab
Apr 22, 2002
RBI rationalises Prudential Norms for NBFCs
The Reserve Bank of India today announced that the past due period of 30 days for identification of non-performing assets by non-banking finance companies (NBFCs) would be done away with effective from March 31, 2003. As such, a loan asset would become a non-performing asset (NPA) if the instalment or interest remains overdue for six months. Similarly, a lease or hire purchase asset would become NPA if the lease rentals or hire purchase instalment remains overdue for
The Reserve Bank of India today announced that the past due period of 30 days for identification of non-performing assets by non-banking finance companies (NBFCs) would be done away with effective from March 31, 2003. As such, a loan asset would become a non-performing asset (NPA) if the instalment or interest remains overdue for six months. Similarly, a lease or hire purchase asset would become NPA if the lease rentals or hire purchase instalment remains overdue for
Apr 11, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has on April 10, 2002 cancelled the certificate of registration granted to S.N. Finance Limited having its registered office at Sri Laxmi, 180, 9th Cross, North of CMH Road, Raghavendra Temple Street, East of Indiranagar Evening College, Indiranagar 1st Stage, Bangalore - 560038. As such, the above company cannot transact the business of
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA (6) of the Reserve Bank of India Act, 1934, has on April 10, 2002 cancelled the certificate of registration granted to S.N. Finance Limited having its registered office at Sri Laxmi, 180, 9th Cross, North of CMH Road, Raghavendra Temple Street, East of Indiranagar Evening College, Indiranagar 1st Stage, Bangalore - 560038. As such, the above company cannot transact the business of
Apr 03, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under sub-section 6 of Section 45 IA of the Reserve Bank of India Act, 1934 and in view of a request made by the said company since it has decided to stop its non-banking finance business, has cancelled on March 26, 2002 the certificate of registration dated November 3, 1998, bearing number 07.00344 issued under Section 45-IA of the Act, to Ganga General Finance Ltd., having its registered office at
The Reserve Bank of India, in exercise of the powers conferred on it under sub-section 6 of Section 45 IA of the Reserve Bank of India Act, 1934 and in view of a request made by the said company since it has decided to stop its non-banking finance business, has cancelled on March 26, 2002 the certificate of registration dated November 3, 1998, bearing number 07.00344 issued under Section 45-IA of the Act, to Ganga General Finance Ltd., having its registered office at
Apr 02, 2002
Rejection of application for certificate of registration
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Nilgiri Planters Finance Limited, 27/172, Ramesh Vihar, H.R.M.Building, Kotagiri, Nilgiris for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Nilgiri Planters Finance Limited, 27/172, Ramesh Vihar, H.R.M.Building, Kotagiri, Nilgiris for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
Apr 02, 2002
Rejection of application for certificate of registration
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Seth Finance and Securities Limited, No.80/1, Govindappa Naicken Street. Chennai 600 001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Seth Finance and Securities Limited, No.80/1, Govindappa Naicken Street. Chennai 600 001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
Apr 02, 2002
Rejection of application for certificate of registration
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Shree Manglam Motor & General Finance Ltd., Bhagwati Palace, Samad Road, Aligarh 202001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial in
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 on March 28, 2002 the application for certificate of registration submitted by M/s. Shree Manglam Motor & General Finance Ltd., Bhagwati Palace, Samad Road, Aligarh 202001 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial in
Mar 22, 2002
Rejection of application for certificate of registration
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Jharia Finance & Investment Company Limited, 127/198, Juhi, Hamirpur Road, Kanpur, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the R
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Jharia Finance & Investment Company Limited, 127/198, Juhi, Hamirpur Road, Kanpur, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the R
Mar 19, 2002
Rejection of application for certificate of registration
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Sarvamangla Housing & Finance Ltd., A.P.Bhawan, Korba, Dist - Bilaspur, Chattisgarh, Pin-495677As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Act
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Sarvamangla Housing & Finance Ltd., A.P.Bhawan, Korba, Dist - Bilaspur, Chattisgarh, Pin-495677As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Act
Mar 16, 2002
Rejection of applications for certificate of registration
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Asra India Savings & Investment Limited, No.5, Jupalli Arcade, 5th Floor, Opp. ECIL Bus Terminal, Secunderabad-500 062, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busine
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 on March 14, 2002 the application for certificate of registration submitted by M/s. Asra India Savings & Investment Limited, No.5, Jupalli Arcade, 5th Floor, Opp. ECIL Bus Terminal, Secunderabad-500 062, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the busine
Mar 16, 2002
Rejection of applications for certificate of registration
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 on March 14, 2002 the application for certificate of registration submitted by Sri Nachiar Venkateswara Swamy Vari Finance Ltd., at No.AG-95, 7th Main Road, Anna Nagar, Chennai-600 040, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fi
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 on March 14, 2002 the application for certificate of registration submitted by Sri Nachiar Venkateswara Swamy Vari Finance Ltd., at No.AG-95, 7th Main Road, Anna Nagar, Chennai-600 040, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fi
Mar 14, 2002
Rejection of application for certificate of registration
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 on March 9, 2002 the application for certificate of registration submitted by M/s. Khushbu Fincap Ltd., 141, Shopping Centre, Kota (Rajasthan). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The compa
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 on March 9, 2002 the application for certificate of registration submitted by M/s. Khushbu Fincap Ltd., 141, Shopping Centre, Kota (Rajasthan). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The compa
Mar 14, 2002
Rejection of application for certificate of registration
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 on February 2, 2002 the application for certificate of registration submitted by Shree Padma Leasing and Finance Pvt. Ltd., 6, Sindhi Market Compound, Near Hinduja College, charni Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Secti
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 on February 2, 2002 the application for certificate of registration submitted by Shree Padma Leasing and Finance Pvt. Ltd., 6, Sindhi Market Compound, Near Hinduja College, charni Road, Mumbai 400 004. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Secti
Mar 11, 2002
Rejection of applications for certificate of registration
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 on March 9, 2002 the application for certificate of registration submitted by M/s. Vyshnavi Finances Limited, No.16-11-771, Flat No.102, 1st Floor, Tirumala Hills Apartments, Beside SBH Moosarambagh `X' Road, Hyderabad-500 036, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot
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 on March 9, 2002 the application for certificate of registration submitted by M/s. Vyshnavi Finances Limited, No.16-11-771, Flat No.102, 1st Floor, Tirumala Hills Apartments, Beside SBH Moosarambagh `X' Road, Hyderabad-500 036, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot
Mar 06, 2002
Rejection of applications for certificate of registration
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 on March 2, 2002 the application for certificate of registration submitted by Elgi Finance Ltd., having its registered office at Elgi House, Trichy Road, Ramanathapuram, Coimbatore-641 045, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking
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 on March 2, 2002 the application for certificate of registration submitted by Elgi Finance Ltd., having its registered office at Elgi House, Trichy Road, Ramanathapuram, Coimbatore-641 045, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking
Mar 04, 2002
Rejection of application for certificate of registration
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 on February 16, 2002 the application for certificate of registration submitted by Shasun Finance Ltd., at No.13, Nageswara Rao Road, T. Nagar, Chennai-600 017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as def
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 on February 16, 2002 the application for certificate of registration submitted by Shasun Finance Ltd., at No.13, Nageswara Rao Road, T. Nagar, Chennai-600 017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as def
Mar 04, 2002
NBFCs to frame Policy for Demand/Call Loans
The Reserve Bank of India today announced that all non-banking finance companies (NBFCs) granting/intending to grant demand/call loans should lay down a policy duly approved by their board of directors. The policy should cover the following aspects : Stipulation of a cut off date within which the repayment of the loan will be demanded/called up. If the cut off date is beyond one year, the sanctioning authority should record specific reasons. Stipulation of the rate of
The Reserve Bank of India today announced that all non-banking finance companies (NBFCs) granting/intending to grant demand/call loans should lay down a policy duly approved by their board of directors. The policy should cover the following aspects : Stipulation of a cut off date within which the repayment of the loan will be demanded/called up. If the cut off date is beyond one year, the sanctioning authority should record specific reasons. Stipulation of the rate of
Feb 25, 2002
Rejection of applications for certificate of registration
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 on February 20, 2002 the application for certificate of registration submitted by ICS Finance Ltd., having its registered office at No.21, Venkataswamy Road, R. S. Puram, Coimbatore-641 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banki
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 on February 20, 2002 the application for certificate of registration submitted by ICS Finance Ltd., having its registered office at No.21, Venkataswamy Road, R. S. Puram, Coimbatore-641 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banki
Feb 25, 2002
Rejection of application for certificate of registration
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 on February 20, 2002 the application for certificate of registration submitted by M/s.Shalivahana Finace Ltd., 94, Minerva House, Sarojini Devi Road, Secunderabad-500 003, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial instit
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 on February 20, 2002 the application for certificate of registration submitted by M/s.Shalivahana Finace Ltd., 94, Minerva House, Sarojini Devi Road, Secunderabad-500 003, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial instit
Feb 25, 2002
Rejection of application for certificate of registration
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 on February 20, 2002 the application for certificate of registration submitted by M/s.Papadiwal Finance & Investments Pvt. Ltd., Door No.15-9-8/14, Mukhtiargunj, Hyderbad-500 012, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fina
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 on February 20, 2002 the application for certificate of registration submitted by M/s.Papadiwal Finance & Investments Pvt. Ltd., Door No.15-9-8/14, Mukhtiargunj, Hyderbad-500 012, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking fina
Feb 22, 2002
Rejection of applications for certificate of registration
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 on February 20, 2002 the application for certificate of registration submitted by Crystal Capital Finance (India) Ltd., having its registered office at No.3, Elukadal Agraharam, II Floor, Madurai-625 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
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 on February 20, 2002 the application for certificate of registration submitted by Crystal Capital Finance (India) Ltd., having its registered office at No.3, Elukadal Agraharam, II Floor, Madurai-625 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
Feb 18, 2002
Rejection of application for certificate of registration
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 on February 9, 2002 the application for certificate of registration submitted by M/s.Balabarathi Finance Ltd., Central Theatre Building, Veterinary Hospital Road, Erode-638 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial
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 on February 9, 2002 the application for certificate of registration submitted by M/s.Balabarathi Finance Ltd., Central Theatre Building, Veterinary Hospital Road, Erode-638 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial
Feb 18, 2002
Rejection of application for certificate of registration
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 on February 14, 2002 the application for certificate of registration submitted by M/s.Kovai Durga Finance Ltd., 362-A, Avanashi road, Peelamedu, Coimbatore-641 004, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution a
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 on February 14, 2002 the application for certificate of registration submitted by M/s.Kovai Durga Finance Ltd., 362-A, Avanashi road, Peelamedu, Coimbatore-641 004, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution a
Feb 16, 2002
Rejection of application for certificate of registration
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 on January 25, 2002 the application for certificate of registration submitted by M/s. Escorts Consumer Credit Ltd., Prince Arcade, 3rd Floor, 22-A Cathedral Road, Chennai-600 086, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial
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 on January 25, 2002 the application for certificate of registration submitted by M/s. Escorts Consumer Credit Ltd., Prince Arcade, 3rd Floor, 22-A Cathedral Road, Chennai-600 086, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of a non-banking financial
Feb 08, 2002
Rejection of application for certificate of registration
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 on February 6, 2002 the application for certificate of registration submitted by M/s. Southern Udyans Ltd., 3-2-870/3, VNR Commercial Complex, Kachiguda Station Road, Hyderabad-27, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financi
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 on February 6, 2002 the application for certificate of registration submitted by M/s. Southern Udyans Ltd., 3-2-870/3, VNR Commercial Complex, Kachiguda Station Road, Hyderabad-27, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financi
Feb 05, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on February 2, 2002 the application for certificate of registration submitted by Bala Sundara Vinayagar Finance Ltd., Priya Complex, II Floor, Bridge Road, Pllipalayam, Erode-638 006, for carrying on the business of a Non-Banking Financial Institution. As such, the above c
It is hereby notified for the information of public that 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 on February 2, 2002 the application for certificate of registration submitted by Bala Sundara Vinayagar Finance Ltd., Priya Complex, II Floor, Bridge Road, Pllipalayam, Erode-638 006, for carrying on the business of a Non-Banking Financial Institution. As such, the above c
Feb 05, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on February 2, 2002 the application for certificate of registration submitted by Unipro Finance Ltd., at No.NP32 & 46, Thiru-vi-ka Industrial Estate, Ekkaduthangal, Guindy, Chennai-600 032, for carrying on the business of a Non-Banking Financial Institution. As such, t
It is hereby notified for the information of public that 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 on February 2, 2002 the application for certificate of registration submitted by Unipro Finance Ltd., at No.NP32 & 46, Thiru-vi-ka Industrial Estate, Ekkaduthangal, Guindy, Chennai-600 032, for carrying on the business of a Non-Banking Financial Institution. As such, t
Feb 04, 2002
Rejection of application for certificate of registration
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 on February 2, 2002 the application for certificate of registration submitted by Tripta Finvest Ltd., ID/14, Sector 7, Rohini, New Delhi-110 085 As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The comp
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 on February 2, 2002 the application for certificate of registration submitted by Tripta Finvest Ltd., ID/14, Sector 7, Rohini, New Delhi-110 085 As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India Act, 1934. The comp
Feb 04, 2002
Rejection of application for certificate of registration
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 on January 31, 2002 the application for certificate of registration submitted by M/s. Panchvati Leasing and Hire Purchase Pvt. Ltd., Kali Nadi Road, Bulandsahar, Uttar Pradesh for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking financial ins
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 on January 31, 2002 the application for certificate of registration submitted by M/s. Panchvati Leasing and Hire Purchase Pvt. Ltd., Kali Nadi Road, Bulandsahar, Uttar Pradesh for carrying on the business of a Non-Banking Financial Institution As such, the above company cannot transact the business of a non-banking financial ins
Feb 04, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has on January 31, 2002 cancelled the certificate of registration to Tulunadu Finance & Developments Ltd., having its registered office at Tulunadu Towers, Court Road, Udupi-576 101. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve B
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has on January 31, 2002 cancelled the certificate of registration to Tulunadu Finance & Developments Ltd., having its registered office at Tulunadu Towers, Court Road, Udupi-576 101. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve B
Feb 02, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on January 31, 2002 the application for certificate of registration submitted by Southern Auto Finance Limited, 839, Anna Salai, Chennai-600 002, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of
It is hereby notified for the information of public that 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 on January 31, 2002 the application for certificate of registration submitted by Southern Auto Finance Limited, 839, Anna Salai, Chennai-600 002, for carrying on the business of a Non-Banking Financial Institution.As such, the above company cannot transact the business of
Feb 02, 2002
Cancellation of the certificate of registration
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 on December 27, 2001 cancelled the certificate of registration issued to the financial company M/s. Shivanand Finance Ltd., 4, Laxmi Narian Shopping Complex, Sion-Trombay Road, Chembur, Mumbai 400 071.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA o
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 on December 27, 2001 cancelled the certificate of registration issued to the financial company M/s. Shivanand Finance Ltd., 4, Laxmi Narian Shopping Complex, Sion-Trombay Road, Chembur, Mumbai 400 071.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA o
Jan 29, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has on January 14, 2002 cancelled the certificate of registration to Ram Mohan Financial Services Ltd., having its registered office at WZ-224, Street No.13, Hastsal Road, Uttam Nagar, New Delhi-110 059. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has on January 14, 2002 cancelled the certificate of registration to Ram Mohan Financial Services Ltd., having its registered office at WZ-224, Street No.13, Hastsal Road, Uttam Nagar, New Delhi-110 059. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA
Jan 28, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on January 24, 2002 the application for certificate of registration submitted by Top Gear Leafin Pvt. Ltd., Door No.25-1-146/1, 1st floor, Nagarjuna Steels Bldg., R. Agraharam, Guntur, Andhra Pradesh-522 004, for carrying on the business of a Non-Banking Financial Institut
It is hereby notified for the information of public that 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 on January 24, 2002 the application for certificate of registration submitted by Top Gear Leafin Pvt. Ltd., Door No.25-1-146/1, 1st floor, Nagarjuna Steels Bldg., R. Agraharam, Guntur, Andhra Pradesh-522 004, for carrying on the business of a Non-Banking Financial Institut
Jan 23, 2002
Rejection of application for certificate of registration
It is hereby notified for the information of public that 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 on January 19, 2002 the application for certificate of registration submitted by M/s. Palacode Mookambigai Financiers Pvt. Ltd., No.40, Ponnan Street, Palacode-636 808, (Dist. Dharmapuri), for carrying on the business of a Non-Banking Financial Institution.As such, the abo
It is hereby notified for the information of public that 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 on January 19, 2002 the application for certificate of registration submitted by M/s. Palacode Mookambigai Financiers Pvt. Ltd., No.40, Ponnan Street, Palacode-636 808, (Dist. Dharmapuri), for carrying on the business of a Non-Banking Financial Institution.As such, the abo
Jan 22, 2002
Rejection of applications for certificate of registration
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 certificate of registration submitted by the following non-banking financial companies: Name of the CompanyRejected on 1. M/s. Incan Investments and Leasing Ltd., 3/8, Vishwas Khand, Gomti Nagar, Lucknow, Uttar PradeshJanuary 17, 2002 2.M/s. Hindustan Hire Purchase Ltd., I. T. I. Chaurah, Farrukabad (U. P.)J
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 certificate of registration submitted by the following non-banking financial companies: Name of the CompanyRejected on 1. M/s. Incan Investments and Leasing Ltd., 3/8, Vishwas Khand, Gomti Nagar, Lucknow, Uttar PradeshJanuary 17, 2002 2.M/s. Hindustan Hire Purchase Ltd., I. T. I. Chaurah, Farrukabad (U. P.)J
Jan 15, 2002
Cancellation of the certificate of registration
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has rejected on January 10, 2002 the application for certificate of registration submitted by Padmaja Ventures Ltd., Plot No.160, AWHO Colony, Sector A, Phase III, Gautam Enclave, Secunderabad-500 009. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA o
The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA(6) of the Reserve Bank of India Act, 1934, has rejected on January 10, 2002 the application for certificate of registration submitted by Padmaja Ventures Ltd., Plot No.160, AWHO Colony, Sector A, Phase III, Gautam Enclave, Secunderabad-500 009. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA o
Jan 14, 2002
Rejection of application for certificate of registration
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 on January 9, 2002 the application for certificate of registration submitted by Associated Business Credits Ltd., 163, Anna Salai, Channai-600 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
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 on January 9, 2002 the application for certificate of registration submitted by Associated Business Credits Ltd., 163, Anna Salai, Channai-600 002, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau
Jan 11, 2002
Rejection of application for certificate of registration
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 on January 10, 2002 the application for certificate of registration submitted by M/s. Paro Leasing & Finance Limited, No.54, Sembudoss Street, 1st floor, Chennai 600 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
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 on January 10, 2002 the application for certificate of registration submitted by M/s. Paro Leasing & Finance Limited, No.54, Sembudoss Street, 1st floor, Chennai 600 001, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial ins
Jan 01, 2002
RBI rationalises NBFC Regulations
Considering the request from the industry, the Reserve Bank of India has decided to include loans against hypothecation of automobiles, aircrafts and ships registered with the concerned authority for the purpose of classification of a non-banking financial company into equipment leasing and hire purchase finance company. The Reserve Bank of India has also underlined a greater role for statutory auditors by reiterating its directions to report directly to the Reserve B
Considering the request from the industry, the Reserve Bank of India has decided to include loans against hypothecation of automobiles, aircrafts and ships registered with the concerned authority for the purpose of classification of a non-banking financial company into equipment leasing and hire purchase finance company. The Reserve Bank of India has also underlined a greater role for statutory auditors by reiterating its directions to report directly to the Reserve B
Dec 21, 2001
Rejection of application for certificate of registration
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 on December 19, 2001 the application for certificate of registration submitted by Monarch Finlease Ltd., Door No.7-9, Sri Sai Ram Complex, 1st Floor, Opp. Bus Terminus, Dilsukh Nagar, Hyderabad-500 060, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of
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 on December 19, 2001 the application for certificate of registration submitted by Monarch Finlease Ltd., Door No.7-9, Sri Sai Ram Complex, 1st Floor, Opp. Bus Terminus, Dilsukh Nagar, Hyderabad-500 060, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of
Dec 19, 2001
Rejection of application for certificate of registration
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 on December 18, 2001 the application for certificate of registration submitted by Ankush Commercial pvt. Ltd., Pushpanjalli, 2nd Floor, Lake Road, Ranchi-834 001, Jharkhand for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
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 on December 18, 2001 the application for certificate of registration submitted by Ankush Commercial pvt. Ltd., Pushpanjalli, 2nd Floor, Lake Road, Ranchi-834 001, Jharkhand for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-banking financial insti
Dec 13, 2001
Rejection of application for certificate of registration
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 on December 8, 2001 the application for certificate of registration submitted by Panchajanya Leafin India Ltd., H. No. 3-4-485/1, D-2, IInd Floor, Agarwal Apartments, near Bank of Baroda, Barkatpura, Hyderabad-500 027 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact
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 on December 8, 2001 the application for certificate of registration submitted by Panchajanya Leafin India Ltd., H. No. 3-4-485/1, D-2, IInd Floor, Agarwal Apartments, near Bank of Baroda, Barkatpura, Hyderabad-500 027 for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact
Dec 12, 2001
Rejection of applications for certificate of registration
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 certificate of registration submitted by the following non-banking financial companies: Name of the Company Rejected on 1. M/s. Trustwin Finance Company Ltd., November 29, 2001 13/14-B, Sub Plot, Kurla Andheri Road, Mumbai 400 059. 2. M/s. Dargoba Finance Company Ltd. November 29, 2001 Post-Chinchani, Mangru
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 certificate of registration submitted by the following non-banking financial companies: Name of the Company Rejected on 1. M/s. Trustwin Finance Company Ltd., November 29, 2001 13/14-B, Sub Plot, Kurla Andheri Road, Mumbai 400 059. 2. M/s. Dargoba Finance Company Ltd. November 29, 2001 Post-Chinchani, Mangru
Nov 28, 2001
Rejection of application for certificate of registration
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 on November 27, 2001 the application for certificate of registration submitted by Sri Devi Annapoorna Associates Leasing Hire Purchase and Finances Ltd., H. No.11-56/A, Main Road, Thorrur, Warangal District, Andhra Pradesh-506 163 , for carrying on the business of a Non-Banking Financial Institution. As such, the above company c
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 on November 27, 2001 the application for certificate of registration submitted by Sri Devi Annapoorna Associates Leasing Hire Purchase and Finances Ltd., H. No.11-56/A, Main Road, Thorrur, Warangal District, Andhra Pradesh-506 163 , for carrying on the business of a Non-Banking Financial Institution. As such, the above company c
Nov 27, 2001
Rejection of application for certificate of registration
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 on November 24, 2001the application for certificate of registration submitted by DCM Shriram Leasing & Finance Ltd., Kanchanjunga, 18, Barakhamba Road, New Delhi-110001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank
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 on November 24, 2001the application for certificate of registration submitted by DCM Shriram Leasing & Finance Ltd., Kanchanjunga, 18, Barakhamba Road, New Delhi-110001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank
Nov 26, 2001
Rejection of applications for certificate of registration
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 on November 15, 2001 the application for certificate of registration submitted by the M/s. Srujit Hire Purchase and Investment Ltd., D 58/16-71B Ashok Nagar, Sigra Varansi, Uttar Pradesh. As such, the above companies cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
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 on November 15, 2001 the application for certificate of registration submitted by the M/s. Srujit Hire Purchase and Investment Ltd., D 58/16-71B Ashok Nagar, Sigra Varansi, Uttar Pradesh. As such, the above companies cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
Nov 24, 2001
Rejection of application for certificate of registration
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 on November 22, 2001 the application for certificate of registration submitted by M/s. Nidhi Finance and Investment Enterprises Ltd., B-3/58, Safdarjung Enclave, New Delhi-110 029.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserv
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 on November 22, 2001 the application for certificate of registration submitted by M/s. Nidhi Finance and Investment Enterprises Ltd., B-3/58, Safdarjung Enclave, New Delhi-110 029.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserv
Nov 21, 2001
Rejection of application for certificate of registration
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 on November 7, 2001 the application for certificate of registration submitted by M/s. Merlin Leasing Investment Private Ltd., having its registered office at 76, Habibullah Road, T. Nagar, Chennai-600017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
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 on November 7, 2001 the application for certificate of registration submitted by M/s. Merlin Leasing Investment Private Ltd., having its registered office at 76, Habibullah Road, T. Nagar, Chennai-600017, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business
Nov 09, 2001
Rejection of application for certificate of registration
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 on November 7, 2001 the application for certificate of registration submitted by M/s. Fidelity Finance Ltd., having its registered office at `Aarti Chambers', 189, Anna Salai, Chennai-600 006, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-ban
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 on November 7, 2001 the application for certificate of registration submitted by M/s. Fidelity Finance Ltd., having its registered office at `Aarti Chambers', 189, Anna Salai, Chennai-600 006, for carrying on the business of a Non-Banking Financial Institution. As such, the above company cannot transact the business of a non-ban
Nov 06, 2001
Rejection of application for certificate of registration
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 on October 24, 2001 the application for certificate of registration submitted by M/s. Kakatiya Credit and Commercial Ltd.,Gouri Shankar Complex, 2nd Floor, Station Road, Warangal, Andhra Pradesh-506 002. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Sec
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 on October 24, 2001 the application for certificate of registration submitted by M/s. Kakatiya Credit and Commercial Ltd.,Gouri Shankar Complex, 2nd Floor, Station Road, Warangal, Andhra Pradesh-506 002. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Sec
Nov 03, 2001
Rejection of application for certificate of registration
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 on November 2, 2001 the application for certificate of registration submitted by M/s. Sunderban Dealers Pvt. Ltd., 168/A, Cotton Street, 4th Floor, Kolkata-700 007. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India
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 on November 2, 2001 the application for certificate of registration submitted by M/s. Sunderban Dealers Pvt. Ltd., 168/A, Cotton Street, 4th Floor, Kolkata-700 007. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India
Oct 31, 2001
RBI lowers Ceiling on NBFC Deposit Rates
The Reserve Bank of India today announced a revision in the maximum rate of interest which the non-banking financial companies can offer on their public deposits. Taking into account the market conditions and changes in other interest rates in the system, the maximum rate of interest that NBFCs can pay on their public deposits has been reduced, effective from November 1, 2001 from 14 per cent to 12.5 per cent per annum. Other stipulations regarding the interest rate r
The Reserve Bank of India today announced a revision in the maximum rate of interest which the non-banking financial companies can offer on their public deposits. Taking into account the market conditions and changes in other interest rates in the system, the maximum rate of interest that NBFCs can pay on their public deposits has been reduced, effective from November 1, 2001 from 14 per cent to 12.5 per cent per annum. Other stipulations regarding the interest rate r
Oct 05, 2001
Rejection of application for certificate of registration
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 on October 3, 2001 rejected the application for certificate of registration submitted by Siel Financial Services Ltd., 4th floor, Soni Mansion, 12-B, Ratlam Kothi, Indore-452001(M.P.). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I of the Act. The co
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 on October 3, 2001 rejected the application for certificate of registration submitted by Siel Financial Services Ltd., 4th floor, Soni Mansion, 12-B, Ratlam Kothi, Indore-452001(M.P.). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I of the Act. The co
Oct 05, 2001
RBI rejects Star Venture Private Limited's application for certificate of registration as NBFC
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 on September 28, 2001 the application for grant of certificate of registration submitted by M/s Star Venture Private Limited. The company has its Registered Office at Shantivan-II, G-6 Doctors Colony, Lohia Nagar, Kankarbagh, Patna - 800020. As such, it cannot transact the business of a non-banking financial institution as defin
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 on September 28, 2001 the application for grant of certificate of registration submitted by M/s Star Venture Private Limited. The company has its Registered Office at Shantivan-II, G-6 Doctors Colony, Lohia Nagar, Kankarbagh, Patna - 800020. As such, it cannot transact the business of a non-banking financial institution as defin
Oct 01, 2001
Rejection of application for certificate of registration
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 on September 28, 2001 he application for certificate of registration submitted by M/s.Mahamedha Investment & Finance (India) Ltd., 2428, Chipiwara Kalan, Near Jama Masjid, New Delhi 110 006. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I
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 on September 28, 2001 he application for certificate of registration submitted by M/s.Mahamedha Investment & Finance (India) Ltd., 2428, Chipiwara Kalan, Near Jama Masjid, New Delhi 110 006. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I
Sep 29, 2001
Rejection of application for certificate of registration
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 on September 28, 2001 the application for certificate of registration submitted by the M/s. Prithvi Credit & Leasing Ltd., 398/22 Ramee's Centre, North Avenue, Santacruz, Mumbai 400 054. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
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 on September 28, 2001 the application for certificate of registration submitted by the M/s. Prithvi Credit & Leasing Ltd., 398/22 Ramee's Centre, North Avenue, Santacruz, Mumbai 400 054. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of
Sep 29, 2001
Rejection of application for certificate of registration
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 on September 28, 2001 the application for certificate of registration submitted by M/s.Bhagwati Auto Credits & Finance Ltd., S-8, Hallet Road, Near Fire Service Station, Moradabad-244 001 (U.P.). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section
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 on September 28, 2001 the application for certificate of registration submitted by M/s.Bhagwati Auto Credits & Finance Ltd., S-8, Hallet Road, Near Fire Service Station, Moradabad-244 001 (U.P.). As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section
Sep 25, 2001
Rejection of application for certificate of registration
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 on September 20, 2001 the application for certificate of registration submitted by M/s. Roxy Motor Finance Private Ltd., Shop No.135, JDA Complex, Nehru Market, Jammu, Jammu & Kashmir. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of t
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 on September 20, 2001 the application for certificate of registration submitted by M/s. Roxy Motor Finance Private Ltd., Shop No.135, JDA Complex, Nehru Market, Jammu, Jammu & Kashmir. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of t
Sep 12, 2001
Rejection of application for certificate of registration
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 cancelled on September 11, 2001 the for certificate of registration granted to Crystal Credits Corporation Ltd.,Crystal House, G-17G, South Extension-II, New Delhi-110 049. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India
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 cancelled on September 11, 2001 the for certificate of registration granted to Crystal Credits Corporation Ltd.,Crystal House, G-17G, South Extension-II, New Delhi-110 049. As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 IA of the Reserve Bank of India
Sep 07, 2001
Rejection of applications for certificate of registration
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 application for certificate of registration submitted by the following non-banking financial company:Name of the CompanyRejected on1. Frontline Industrial & Credits Corporation Ltd., Frontline Complex, Sheesh Mahal, kathgodam (Nainital)August 30, 2001 As such, the above company cannot transact the business of a non-banki
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 application for certificate of registration submitted by the following non-banking financial company:Name of the CompanyRejected on1. Frontline Industrial & Credits Corporation Ltd., Frontline Complex, Sheesh Mahal, kathgodam (Nainital)August 30, 2001 As such, the above company cannot transact the business of a non-banki
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