|
The Reserve Bank of India, has on November
24, 2005 cancelled the certificate of registration issued to Kumbh Finance Limited,
having its registered office at 13/386, Civil Lines, Kanpur-208 001, Uttar Pradesh
for carrying on the business of a non-banking financial institution as the company
has opted to exit from the business of non-banking financial institution.
Under powers conferred by Section 45-IA
(6) 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 institutions is defined in clause (a) of Section 45-I
of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release: 2005-2006/748
|