The Reserve Bank of India, has on April 7, 2005 cancelled the certificate of registration issued to Sarita Finance Limited, having its registered office at 1-206, Divya Shakthi Complex, Ameerpet, Hyderabad 500 016 (since shifted to 403, Diamond Block, Lumbini Rock Dale, Somajiguda, Hyderabad 500 082 for carrying on the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45IA of the Reserve Bank of India Act, 1934. P.V.Sadanandan
Manager Press Release: 2004-2005/1074 |