The Reserve Bank of India, has
on April 12, 2005 cancelled the certificate of registration issued to Nice India
Credit and Finvest Pvt. Ltd., having its registered office at 91/1, Civil Lines,
Jhansi, Uttar Pradesh 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.
Ajit Prasad
Manager
Press Release: 2004-2005/1327
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