Press Releases - Regulating Non-Banking - RBI - Reserve Bank of India
Press Releases
Oct 12, 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 October 10, 2002 the application for certificate of registration submitted by Wisec Global Limited, B-6/7, Commercial Complex, Safdarjung Enclave, New Delhi-110 029, 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 October 10, 2002 the application for certificate of registration submitted by Wisec Global Limited, B-6/7, Commercial Complex, Safdarjung Enclave, New Delhi-110 029, 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
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Oct 11, 2002
Certificate of Registration cancelled
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 October 9, 2002 the certificate of Registration granted to ICDS 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 I of the RBI Act, 1934.
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 October 9, 2002 the certificate of Registration granted to ICDS 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 I of the RBI Act, 1934.
Oct 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 October 4, 2002 the application for certificate of registration submitted by Kumar Auto Finance Private Limited, 317-A, Pocket-II, Mayur Vihar, Phase-I, New Delhi-110 091, 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 October 4, 2002 the application for certificate of registration submitted by Kumar Auto Finance Private Limited, 317-A, Pocket-II, Mayur Vihar, Phase-I, New Delhi-110 091, 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
Oct 01, 2002
RBI Modifies NBFC Regulations
The Reserve Bank of India today announced that non-banking financial companies (NBFCs) should necessarily hold their investments in Government Securities only in dematerialised form, either in a Constituent's Subsidiary General Ledger Account (CSGL) with a scheduled commercial bank / Stock Holding Corporation of India Ltd. or with a depository. The NBFCs have been permitted, as a special case, time up to October 31, 2002 to dematerialise the securities/bonds held by t
The Reserve Bank of India today announced that non-banking financial companies (NBFCs) should necessarily hold their investments in Government Securities only in dematerialised form, either in a Constituent's Subsidiary General Ledger Account (CSGL) with a scheduled commercial bank / Stock Holding Corporation of India Ltd. or with a depository. The NBFCs have been permitted, as a special case, time up to October 31, 2002 to dematerialise the securities/bonds held by t
Sep 28, 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 September 27, 2002 the application for certificate of registration submitted by Uplease Financial Services Ltd., Khushnuma Complex, 7, Meerabai Marg, Lucknow, 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 B
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 27, 2002 the application for certificate of registration submitted by Uplease Financial Services Ltd., Khushnuma Complex, 7, Meerabai Marg, Lucknow, 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 B
Sep 23, 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 sub-section (6) of Section 45 IA of the Reserve Bank of India Act, 1934, has cancelled as surrendered on September 19, 2002 the certificate of registration No.07.00379 dated November 25, 1998 issued to Indian Finance and Factors Limited, having registered at 66 (new No.131) Royapettah High Road, Mylapore, Chennai-600 004, to carry on the
It is hereby notified for the information of public that 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, has cancelled as surrendered on September 19, 2002 the certificate of registration No.07.00379 dated November 25, 1998 issued to Indian Finance and Factors Limited, having registered at 66 (new No.131) Royapettah High Road, Mylapore, Chennai-600 004, to carry on the
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
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
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