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Aug 25, 1999

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, 1999 the application for certificate of registration submitted by the financial company M/s. Tulip Finance Ltd., 3rd Floor, United India Life Building, "F" Block, Connaught Place, New Delhi-110 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a

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Aug 24, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. M/s. Platinum Finance Ltd., P-3, C.I.T., Road Scheme No.52, Entally, Calcutta-700 014, West Bengal.23.8.19992.M/s. Savera Securities (India) Ltd., 47, Janakpuri, Bareilly (U.P.)23.8.1

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Aug 19, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. M/s. Rajendra Finance & Leasing (Private) Ltd., Old Post Office Building, Maya Bazar, Visnagar-384 315.18.8.19992.M/s. Vindyasara Finance & Savings (I) Pvt. Ltd., 27/A-1251, G

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Aug 19, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. M/s. Deeplaxmi Savings & Investments Co. Ltd., 209, Citicentre Building, Patto Plaza, Panaji-403 001.18.8.19992.M/s. Ashraya Finance & Investments Ltd., Prabhat Chowk, Amravat

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Aug 19, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. Sweethome Lease & Hire Purchase (P) Ltd., 46-47, River Palace, Nanpura, Surat.18.8.19992.M/s. Islamic Finance & Investments Co. Ltd., 3, Nawab Badruddin Street, Calcutta-700 0

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Aug 18, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. M/s. Fineline Finance and Investments Ltd., Ananda Building, First Floor, No.3, Station Road, West Mambalam, Chennai-600 033.14.8.19992.M/s. Godavari Hire Purchase (P) Ltd., Near Rail

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Aug 18, 1999

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 16, 1999 the application for certificate of registration submitted by the financial company Saritha Leafin (P) Ltd., 3-5-944/222 & 223, Panchavati Mall, Opp. Taj Mahal Hotel, Narayanguda, Hyderabad.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a

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Aug 18, 1999

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 16, 1999 the application for certificate of registration submitted by the financial company M/s. Verona Commercial Credit & Investment Co. Ltd., 68B, A.P.C. Road, 2nd Floor, Room No. 16, Calcutta-700 009.As such, the above company cannot transact the business of a non-banking financial institution as defined in Cla

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Aug 17, 1999

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 16, 1999 the application for certificate of registration submitted by the financial company M/s. Mangal Finance Ltd., 202, Balarama House, 1, Karampura Commercial Complex, New Delhi-110 005.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section

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Aug 16, 1999

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 12, 1999 the application for certificate of registration submitted by the financial company M/s. Nagma Mutual Benefit (I) Ltd., 12-A, Nagma Market, Paltan Bazar, Pratapgarh (Uttar Pradesh).As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section

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Aug 16, 1999

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 13, 1999 the application for certificate of registration submitted by the financial company The City Investment & Finance Ltd., 81, Kharavel Nagar, Unit III, Bhubaneshwar-751 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I o

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Aug 16, 1999

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 13, 1999 the application for certificate of registration submitted by the financial company M/s. Grover Leasing Ltd., M-2, Yogeshwar, Connaught Place, New Delhi-110 001.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 Reserve

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Aug 14, 1999

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 12, 1999, the application for certificate of registration submitted by the financial company M/s. Parasrampuria Credit & Investments Ltd., Regent Chambers, 10th Floor, 208, Nariman Point, Mumbai 400 021.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau

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Aug 11, 1999

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 7, 1999 the application for certificate of registration submitted by the financial company Benison Finance Ltd., Chandmari (opp.Brahmaputra Flood Control Commission), Guwahati-781003.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I o

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Aug 07, 1999

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 6, 1999 the application for certificate of registration submitted by the financial company M/s. Rapti Leasing Ltd., 36, Kings Road, Howrah-700 001, West Bengal.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 Reserve Bank of I

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Aug 07, 1999

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 6, 1999, the application for certificate of registration submitted by M/s. Leafin India Ltd., having its Registered Office at Suryakiran Apartment, Block 'A', 1-2-593/34, Gagan Mahal Colony, Domalguda, Hyderabad-500 029.As such, the company cannot transact the business of a Non-Banking Financial Institution as defined

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Aug 06, 1999

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 4, 1999 the application for certificate of registration submitted by the financial company M/s. Vridhishree Finance & Investment (India) Ltd., 810, Jagat Trade Centre, Fraser Road, Patna-800 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) o

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Aug 06, 1999

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 5, 1999, the application for Certificate of Registration submitted by M/s. Allied Housing Development Finance Co. (P) Ltd., a Non-Banking Financial Company having its Registered Office at Sir R.N.Mukherjee Road, P.O. & P.S.Basirhat, Dist. North 24 Paraganas, West Bengal.As such, the company cannot transact the busi

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Aug 05, 1999

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 4, 1999 the application for certificate of registration submitted by the financial company M/s. Raunaq Finance Ltd., 418, 3rd Floor, Shalimar Complex, Church Road, Jaipur.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 Reserv

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Aug 02, 1999

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 31, 1999, the application for certificate of registration submitted by M/s. BPL Sanyo Finance Ltd., having its registered office at 1/1, Palace Road, Bangalore-560 001 for carrying on the business of a Non-Banking Financial Institution.As such, the company cannot transact the business of a Non-Banking Financial Instituti

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Aug 02, 1999

All NBFCs and RNBCs to submit Annual Statutory Returns on Deposits

The Reserve Bank of India has today advised all nidhi companies, chit fund companies and non-banking financial companies holding public deposits to submit the annual statutory return on deposits. The return should be submitted in the format of the First Schedule on or before September 30, 1999.It has been clarified that the return is required to be submitted by every nidhi company, chit fund company and such other NBFC that held public deposits as on March 31,1999. Th

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Aug 02, 1999

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 31, 1999, the application for certificate of registration submitted by M/s. Chohal Investments Ltd., having its registered office at Village Chohal, Dist. Hoshiarpur, Punjab for carrying on the business of a Non-Banking Financial Institution.As such, the company cannot transact the business of a Non-Banking Financial Ins

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Jul 31, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. The Janajyoti General Finance & Investment (India) Ltd., 86-B, Gautam Nagar, Bhubaneshwar.29.7.19992.The Karmabhumi General & Housing Finance Ltd., Kamrup, Assam.29.7.19993.The

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Jul 23, 1999

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, 1999, the application for certificate of registration submitted by the financial company M/s. Rapti Growth Fund Ltd., C-4, Meerabai Marg, Lucknow-226 001.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 Reserve Bank of India

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Jul 23, 1999

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 22, 1999, the application for Certificate of Registration submitted by M/s. Navoday Hire Purchase & Deposits Ltd., having its registered office at Dev Bahavan, Khalini, Shimla, Himachal Pradesh for carrying on the business of a Non-Banking Financial Institution.As such, the company cannot transact the business of a N

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Jul 23, 1999

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 21, 1999, the application for certificate of registration submitted by M/s. Laxasha Leasing & Finance Ltd., a Non-Banking Financial Company having its Registered Office at 101, Anandmangal II, C.G. Road, B/h Onkar House, Ahmedabad.As such, the company cannot transact the business of a Non-Banking Financial Institutio

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Jul 23, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. The Vishal Savings India Ltd., Vishal Bhavan, Rajiv Nagar, Patna-800 024.23.7.19992.The Varat Asharam Satsangh Finance & Investments Co. Ltd., Post - Kujidihi, Dist. Mayurbhanj23.7.

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Jul 22, 1999

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 21, 1999 the application for certificate of registration submitted by financial company M/s. Rapti Nidhi Limited, 36, Kings Road, Howrah-700 001, West Bengal.As such, the company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I of the Reserve Bank of India Act,

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Jul 21, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. M/s. Babu Venni Lakshmi Finvest Pvt. Ltd., 34-E/12, Morappur Main Road, Kambainallur, Harur Taluk, Dharmapuri Dist., Tamil Nadu-635 202.19.7.19992.M/s. Borsad Fincap Ltd., 5, Shivam Soc

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Jul 19, 1999

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 15, 1999 the application for Certificate of Registration submitted by M/s. Jagpriya Finance & Investment Ltd., a Non-Banking Financial Company having its Registered Office at B-207, II Floor, Manpasand Complex, Bapunagar, Ahmedabad.As such, the company cannot transact the business of a Non-Banking Financial Instituti

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Jul 19, 1999

35 non-banking entities permitted to undertake ready forward transactions

The Government of India has issued a notification permitting 35 non-banking entities, to undertake ready forward transactions in notified government securities with other entities for this purpose. The non-banking entities include primary dealers, dedicated gilt funds, mutual funds, insurance companies and some financial institutions.It may be recalled that to improve the transmission mechanism of monetary policy and to further develop the money and debt markets in th

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Jul 19, 1999

RBI prohibits Ajmani Leasing & Finance Ltd. from accepting deposits

The Reserve Bank of India in exercise of the powers, conferred on it under Section 45K read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Ajmani Leasing & Finance Ltd., Bus Station Road, Lakhimpur Kheri (U.P.) from accepting deposits with effect from July 19, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2) of the Reserve Bank of India Ac

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Jul 16, 1999

Rejection of application for certificate of registration

The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 15, 1999 the application for certificate of registration submitted by the financial company M/s. Nikhil Jyoti Finance & Investment (India) Ltd., Opp. Balram Talkies, Nehru Nagar Road, Bilaspur-495 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (

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Jul 14, 1999

RBI prohibits Galaxy Growfin Ltd. from accepting deposits

It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Galaxy Growfin Ltd., B.12/112-1, Gauriganj Bhelupura, Varanasi (U.P.) from accepting deposits with effect from July 14, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Section 45MB(2

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Jul 13, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1. The Panchali Finance Company Pvt. Ltd., Station Gurudwara Road, Gaya-823 00210.7.19992.The Polyactive Finance India Ltd., Madhaul Bhawan, M.P. Colony, Station Road, Hajipur.10.7.19993.T

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Jul 12, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Feasible Finance & Investment Company (I) Ltd., Vill Naraina, P.O.Sakaldiha, Chandauli, Varanasi-232 104 (U.P.)12.7.1999 2.M/s. Cobra Housing Finance & Leasing Co. Ltd.,

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Jul 12, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Lokasha Finance & Investment Ltd., 405, Kailash Complex II, Near Jain Derasar, Navrangpura, Ahmedabad-380 009.10.7.1999 2.M/s. Vraj Finance Ltd., 101, Bhagtani Bhavan, Plot N

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Jul 12, 1999

Rejection of application for certificate of registration

The Reserve Bank of India, in exercise of the powers conferred on in under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected on July 10, 1999 the application for certificate of registration submitted by the financial company The Jibanbikash General Finance & Investment (I) Ltd., Madhupatna, Cuttack.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 Reserve

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Jul 06, 1999

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 5, 1999, the application for Certificate of Registration submitted by the financial company M/s. P.G. Finance & Investment (I) Pvt. Ltd., 8, Old Post Office Street, Calcutta-700 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I

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Jul 06, 1999

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 5, 1999, the application for Certificate of Registration submitted by M/s. Indodeep General Finance & Investment Company Ltd., having its Registered Office at 42/3 Dum Dum Road, Calcutta-700 074.As such, the company cannot transact the business of a Non-Banking Financial Institution, as defined in Clause (a) of Secti

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Jul 02, 1999

Updated list of NBFCs

The Reserve Bank of India has updated the list of Non-Banking Financial Companies including Residuary Non-Banking Companies which are registered with the Reserve Bank and are permitted to accept public deposits and those whose applications for registration are rejected and are, therefore, not allowed to accept public deposits. The list updated till June 30, 1999 has been published on the Reserve Bank of India Website (URL : www.nbfclist.rbi.org.in). The list will be u

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Jul 01, 1999

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 30, 1999, the application for Certificate of Registration submitted by M/s. R. Krishnaswamy Investments Pvt. Ltd., having its Registered Office at 1133, Trichy Road, Singanallur, Coimbatore-641 005.As such, the company cannot transact the business of a Non-Banking Financial Institution as defined in Clause (a) of Section

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Jul 01, 1999

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 30, 1999, the application for Certificate of Registration submitted by the financial company M/s. Boaston Finance investment Pvt. Ltd., 111, Chinubhai Towers, Near H. K. College, Ahmedabad-380 009.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Se

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Jun 29, 1999

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 25, 1999, the application for Certificate of Registration submitted by the financial company Khaddarwal Leasing (I) Ltd., Lal Quan, Buland Shahr, (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 I of the Reserve Bank of I

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Jun 28, 1999

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 21, 1999, the application for Certificate of Registration submitted by the financial company M/s.Renowned Small Savings Co. Ltd., Ashram Road, P.O. & Dist. Cooch Behar, West Bengal.As such, the above company cannot transact the business of a non-banking financial institution, as defined in Clause (a) of Section 45 I

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Jun 28, 1999

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 25, 1999, the application for Certificate of Registration submitted by the financial company M/s. Enrich Industries Ltd., 214 Spectrum Commercial, Near G.P.O., Salapose Road, Ahmedabad-380 001. As such, the above company cannot transact the business of a non-banking financial institution, as defined in Clause (a) of Sect

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Jun 26, 1999

(i) Rapti Leasing Ltd., and (ii) Rapti Nidhi Ltd. Prohibited from accepting deposits

The Reserve Bank of India in exercise of the powers vested in it under sub-section (4) of Section 45K and Section 45MB of the Reserve Bank of India Act, 1934 has prohibited the undernoted two companies from accepting deposits from any person including the existing depositors/certificate holders, in any form whether by way of subscription/instalment to any scheme conducted by the company or by way of renewals under any such schemes/deposits or otherwise with immediate

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Jun 25, 1999

RBI discontinues Receipt of Return of Deposits from Non-Banking Non-Financial Companies

The Reserve Bank of India has decided to discontinue the system of receiving copies of return on deposits from the non-banking non-financial companies from the current reporting period, i.e., March 31, 1999 onwards.In terms of the provisions contained in the Companies Act, 1956, the non-banking non-financial companies were 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

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Jun 25, 1999

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 22, 1999, the application for Certificate of Registration submitted by the financial company M/s. Reginal Small Savings & Investments Ltd., Das Bhaban, Chhoto Bazar, P.O & Dist. Midnapur (West Bengal).As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau

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Jun 25, 1999

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 24, 1999, the application for Certificate of Registration submitted by M/s.Goldfinch Finance & Leasing Ltd., having its Registered Office at 'Srikrishna', Plot No.9, Aurora Colony-II, Road No.3, Banjara Hills, Hyderabad-500 034.As such, the above company cannot transact the business of a Non-Banking Financial Institu

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Jun 23, 1999

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 21, 1999, the application for Certificate of Registration submitted by the financial company M/s. Sankalpa Social Welfare Economy Ltd., Mahamaya, Dharampur, P.O. Chinsurah, Dist. Hooghly.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45 I

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Jun 17, 1999

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 15, 1999, the application for Certificate of Registration submitted by the financial company M/s. Krishna Credit Company Ltd., 17 A, Dr. Bidhan Roy Sarani, (M.Lane), More Pukur, Rishra, West Bengal-712 205.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause

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Jun 17, 1999

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 15, 1999, the application for Certificate of Registration submitted by M/s. Madhupala Credit Capitals Ltd., (formerly Auriferous Finance & Investment Ltd.,) now changed its name to M/s. Innareddy Computer Software Associates (I) Ltd., having its Registered Office at 203, Ashok Plaza, 2nd Floor, 10-1-126, Masab Tank,

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Jun 16, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. The Bhagwati Commercial Finance Pvt. Ltd., Kothiyatola Punarwas, P.O. Akhata, P. S. Punarwas, Dist. Sittamarhi, Bihar.14.6.1999 2.Hinglaj Finstock (India) Limited, 1, Jankinandan Soci

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Jun 16, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. M/s. Himalayan Fincap Ltd., Triveni Building, Khalini, Shimla-171 002.15.6.1999 2.M/s. Him Parvesh Finance Ltd., Sanmol Cottage, Chakkar, Shimla-171 005.15.6.1999As such, the above co

Jun 15, 1999

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 14, 1999, the application for Certificate of Registration submitted by M/s. Madhupala Finance Ltd., having its Registered Office at 203, Ashok Plaza, 2nd Floor, 10-1-126, Masab Tank, Hyderabad-500028.As such, the company cannot transact the business of a Non-Banking Financial Institution as defined in Clause (a) of Secti

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Jun 15, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on 1. Himachal Housing & Fiscal Services Ltd., Neelam Bhawan, Sanjauli, Shimla - 171 006.14.6.1999 2.Bachan Leasing & Auto Finance Limited, Diamond Complex, Opp. Bus Stand, Ludhiana

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Jun 15, 1999

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 June14, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Kamal Capital and Finlease (India) Ltd., 2, Vaishali Flats, Opposite Naya Mandi, New Deesa-385 535.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Se

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Jun 11, 1999

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 8, 1999, the application for Certificate of Registration submitted by Aware (India) Foundation, a Non-Banking Financial Company having its Registered Office at H.No 8-2-703/A/6/B5, Road No.12, Banjara Hills, Hyderabad-500034.As such, the above company cannot transact the business of a non-banking financial institution as

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Jun 10, 1999

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 8, 1999, the application for Certificate of Registration submitted by the financial company, The Social Welfare Hire Purchase Company Ltd., M.S. Raza Building, Kabirpur, Nathnagar, Bhagalpur (Bihar).As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of

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Jun 10, 1999

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 8, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Standard Economy Ltd., 28/2/1, Old Ballygunge, 2nd Lane, Calcutta-700 019As 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 Reserve

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Jun 10, 1999

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 8, 1999, the application for Certificate of Registration submitted by M/s. Enarai Capital Markets Ltd., a Non-Banking Financial Company having its Registered Office at B-1014, Station Plaza, Station Road, Bhandup (West), Mumbai 400 078. As such, the company cannot transact the business of a Non-Banking Financial Institut

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Jun 09, 1999

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 8, 1999, the application for Certificate of Registration submitted by the financial company M/s. Rajbir Finvest Ltd., H.O. 3170, Sector 23-D, Chandigarh - 160 023.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 Reserve Bank of

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Jun 09, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificates of registration submitted by the undernoted financial companies:Sr. No. Name of the CompanyRejected on 1. M/s. Acceptable Finvest Company Limited, Near Hari Mandir, P.O. & P.S. Birpara, Dist. Jalpaiguri, West Bengal-735 204.8.6.1999 2.M/s. Kanwal Financiers Limited, 3170 Sector, 2

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Jun 07, 1999

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 5, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Sunrise Investment and Finance Ltd., Shivaji Market, Railway Head Nanak Nagar, Jammu.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

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Jun 07, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificates of registration submitted by the undernoted financial companies: Name of the CompanyRejected on 1. M/s Trikone Finance (India) Limited, 'B'-143 Sector C, Mahanagar, Lucknow. 3.6.1999 2.M/s Trikone Leasing Company Limited, 'B'-143 Sector C, Mahanagar, Lucknow.3.6.1999As such, the above

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Jun 07, 1999

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 5, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Nityanand Capital Serices Pvt. Ltd., Sector 2, Building A/11/11 (Ground Floor), Santinagar, Mira Road (East), District Thane-401 107.As such, the above company cannot transact the business of a non-banking financial institut

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Jun 04, 1999

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 3, 1999, the application for Certificate of Registration submitted by the financial company, M/s Canon Capital & Leasing (India) Ltd., 24 Kumharpara, Mangalwara Bhopal.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 Reserve

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May 28, 1999

RBI removes Ceiling on Bank Credit to NBFCs

The Reserve Bank of India (RBI) has removed the ceiling on bank credit in respect of all registered Non-Banking Financial Companies (NBFCs), engaged in principal business of equipment leasing, hire purchase, loan and investment activities. Banks may now assess and provide need-based finance to NBFCs, as per the loan policy laid down by them with the approval of their boards.Earlier, in respect of NBFCs, (other than RNBCs) which were registered with the Reserve Bank, b

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May 28, 1999

RBI prohibits Rapti Growth Fund Ltd. from accepting deposits

It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45K (4) read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Rapti Growth Fund Ltd., C 4, Meera Bai Marg, Lucknow from accepting deposits with effect from May 27, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it under Sectio

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May 28, 1999

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 27, 1999, the application for Certificate of Registration submitted by the financial company, The Research Savings & Finance (India) Ltd., Mohini market, Exhibition Road, Patna 800 001.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 45

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May 27, 1999

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 26, 1999, the application for Certificate of Registration submitted by the financial company The Social Welfare Savings & Finance Ltd., M. S. Raza Building, Kabirpur, Nathnagar, Bhagalpur (Bihar).As such, the company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Sectio

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May 26, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies: Name of the CompanyRejected on 1. M/s Reliable Securities Ltd., 1-10-73/2, III Floor, Lumbini Arcade, Begumpet, Hyderabad 500 016.24.5.1999 2.The Bihar Capital Financiers Ltd., A/91, P.C. Colony, Kankar Bagh, Patna-20.25.

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May 20, 1999

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 18, 1999, the application for Certificate of Registration submitted by M/s. Contact Securities Ltd., E-7/L-369, Arera Colony, Bhopal-462 016 for carrying on the business of a Non-Banking Financial Institution.As such, the company cannot transact the business of a Non-Banking Financial Institution as defined in Clause (a)

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May 19, 1999

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 18, 1999 the application for certificate of registration submitted by the financial company M/s. Mahakaushal Finvest Ltd., 73, Royal Market Road, Opposite Motia Talab, Bhopal 462 001.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

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May 18, 1999

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, 1999, the application for Certificate of Registration submitted by M/s. Minerva Finance (I) Ltd., a Non-Banking Financial Company having its Registered Office at Panskura Railway Station Bazar, Post Office - Panskura, District Midnapore, West Bengal.As such, the company cannot transact the business of a Non-Banking Fi

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May 14, 1999

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 13, 1999, the application for Certificate of Registration submitted by M/s JKA Financial Services Ltd., a Non-Banking Financial Company having its Registered Office at S.C.O. 18, Sector 20-D, 1st floor, Chandigarh.As such, the company cannot transact the business of a Non-Banking Financial Institution, as defined in Claus

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May 12, 1999

RBI prohibits Trikone Mutual Benefits Ltd. from accepting deposits

It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45K (4) read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Trikone Mutual Benefits Ltd., B-143, Sector C, Mahanagar Lucknow from accepting deposits with effect from May 12, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powers conferred on it

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May 12, 1999

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 11, 1999, the application for certificate of registration submitted by M/s Farrukhabad Investment (India) Ltd., a Non-Banking financial Comapny having its Registered Office at (near) I. T. I. Chauraha, Farrukhabad, Uttar Pradesh.As such, the above company cannot transact the business of a non-banking financial institution

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May 06, 1999

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 4, 1999 the application for certificate of registration submitted by the financial company M/s. Prestigious Finance & Investment (I) Ltd., Swayamsidhi Commercial Complex, Exhibition Road, 1st Floor, Patna-800 001.As such, the above company cannot transact the business of a non-banking financial institution as defined

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May 05, 1999

RBI list of NBFCs registered and permitted to accept Public Deposits and those which have been denied registration to function as NBFC On RBI website

The Reserve Bank of India has on its website (URL: http://www.rbi.org.in) released the all India lists of non-banking financial companies.584 non-banking financial companies (NBFCs) whose applications for certificate for registration under Section 45IA of RBI Act, 1934 have been approved and have been allowed to hold/accept deposits from public; and1032 NBFCs including Residuary Non-Banking Companies (RNBCs) whose applications for certificate of registration under Sec

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May 03, 1999

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 28, 1999 the application for certificate of registration submitted by the financial company M/s. Immaculate Finance & investment Company Ltd., E 3, Vijay Tower, 6th Floor, Ankur Commercial Complex, Ankur Road, Naranpura, Ahmedabad-380 013.As such, the above company cannot transact the business of a non-banking finan

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Apr 26, 1999

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 23, 1999 the application for certificate of registration submitted by the financial company M/s. Cee Kay Leasing and Finance Ltd., 75, Rajpur Road, Dehradun-248 001.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

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Apr 12, 1999

Escrow Account Facility for NBFCs to exit from Public Deposits

The Reserve Bank of India today announced that non-banking financial companies (NBFCs) presently holding public deposits will be allowed to park an amount equivalent to the amount of outstanding public deposits together with the present value of future interest differentials (between the yield on investments and the obligation of the company to pay the rate of interest) in an escrow account subject to certain conditions.The escrow account facility to NBFCs will be sub

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Apr 05, 1999

RBI prohibits Kuber Mutual Benefits Ltd. from accepting deposits

It is hereby notified for the information of the public that the Reserve Bank of India in exercise of the powers, conferred on it under Section 45K(4) read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Kuber Mutual Benefits Ltd., Kuber Bhavan, Begum Bridge Road, Meerut, Uttar Pradesh, from accepting deposits with effect from April 5, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.Further, in exercise of the powe

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Apr 05, 1999

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 1, 1999 the application for certificate of registration submitted by the financial company M/s.Maharaja Finance & Investment Co. Ltd., 24, Sitabagh Colony, Dhenu Market, Indore-452 003.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Section 4

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Mar 05, 1999

RBI cautions against unauthorised use of RBI name by NBFCs

It has come to the notice of the Reserve Bank of India (RBI) that certain Non-Banking Finance Companies (NBFCs) and other persons are unauthorisedly using the RBI's name in their advertisements/neon sign boards and/or such other material while soliciting public deposits. Such display of the RBI's name by the registered NBFCs whether registered or unregistered, and unincorporated bodies in any manner whatsoever, is not only unauthorised and improper but it may also att

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Feb 17, 1999

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 15, 1999 the application for certificate of registration submitted by M/s. Kothari Orient Finance Ltd., having its Registered Office at Kothari Buildings, 114, Mahatma Gandhi Road, Nungambakkam, Chennai-600 034.As such, the above company cannot transact the business of a non-banking financial institution as defined i

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Feb 16, 1999

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 12, 1999 the application for certificate of registration submitted by the financial company M/s. Precede Housing & Finance Co. Ltd., FE/12/2, Vidyasagar Pally, P.O. Jyangra, Baguiati, Calcutta - 700 059.As such, the above company cannot transact the business of a non-banking financial institution as defined in Cl

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Feb 16, 1999

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 12, 1999 the application for certificate of registration submitted by the financial company M/s. Satadal Savings & Investment Ltd., 137, S. P. Mukherjee Road, Unit 18 (1st Floor), Calcutta - 700 026.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause

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Feb 09, 1999

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 5, 1999 the application for certificate of registration submitted by M/s Enarai Finance Ltd., a Non-Banking Financial Company having its Registered Office at B-104, Station Plaza, Station Road, Bhandup (West), Mumbai 400 078.As such, the above company cannot transact the business of a non-banking financial institutio

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Feb 02, 1999

Application for grant of Certificate of Registration rejected

February 2, 1999The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of a certificate of registration submitted by the undernoted financial companies:Sr.No.Name of the CompanyRejected on1.M/s. Marigold Motor Advances (India) Ltd., SCO-846 Shivalik Enclave, Manimajra, Chandigarh28.1.1999 2.M/s. Marigold Leasing (India) Ltd., SCO-846 Shivalik Enclave, Mani

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Jan 14, 1999

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 12, 1999, the application for certificate of registration submitted by M/s. Vasanthi Finance Ltd., having its Registered Office at 22-240/5, Nandita Complex, Opp. KPHB Colony, Kukatpally, Hyderabad-500 072.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clau

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Jan 14, 1999

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 13, 1999 the application for certificate of registration submitted by the financial company M/s. Memorial Finance & Investment (I) Ltd., 71/IA, Patuatola Lane, Calcutta-700 009.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

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Jan 14, 1999

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 13, 1999 the application for certificate of registration submitted by the financial company M/s. Pittie Finance Ltd., 713, Raheja Centre, 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 I of the Reserve

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Jan 13, 1999

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 11, 1999, the application for certificate of registration submitted by the financial company M/s. Singal Leasefin Ltd., Singal House, 2367, Kalupur, Kot-Ni-Rang, Ahmedabad-380 001.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

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Jan 12, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificates of registration submitted by the undernoted non-banking financial companies:Sr.No.Name of the CompanyAddress of the Registered Office of the CompanyRejected on1.M/s. S. M. Finance Ltd. No.6, Upper Ground Floor, Nalanda Apartment, Somajiguda, Hyderabad-500 08209.01.1999 2.M/s. Madhusudan

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Jan 08, 1999

Application for grant of Certificate of Registration rejected

The Reserve Bank of India, in exercise of the powers conferred on it under Section 45 IA of the Reserve Bank of India Act, 1934, has rejected the applications for grant of certificate of registration submitted by the undernoted non-banking financial companies:Sr.No.Name of the CompanyAddress of the Registered Office of the CompanyRejected on1.M/s. Midwest Mutual Fund Ltd.1-10-73/1, Airport Road, Begumpet, Hyderabad-500 016.7.1.1999 2.M/s. Midwest Hire Purchase Ltd.1-1

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Jan 08, 1999

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 7, 1999 the application for certificate of registration submitted by the financial company M/s. KMF Securities Limited, 1018, Bansal Chambers, Arya Samaj Road, Karol Baug, New Delhi- 110 005.As such, the above company cannot transact the business of a non-banking financial institution as defined in Clause (a) of Secti

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Jan 05, 1999

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 31, 1998, the application for certificate of registration submitted by M/s. Genius Financial Services Ltd., having its Registered Office at 1-10-7 & 8, 1st floor, S.P. Road, Begumpet, Hyderabad-500 016.As such, the above company cannot transact the business of a non-banking financial institution as defined in Cla

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