The Reserve Bank of India, has
on July 4, 2005 cancelled the certificate of registration issued to Ratnanidhi
Finsec Private Limited having its registered office at 9-131/8, H. M. T. Nagar,
Street No.5, Nacharam, Hyderabad-500 076 (since shifted to) 9-7/1, H.M.T.Nagar,
Opposite Hanuman Temple, Main Road, Nacharam, Hyderabad-500 076 for carrying
on the business of a non-banking financial institution.
Under powers conferred by Section
45-IA 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 45-IA
of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release : 2005-2006/52
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