|
The Reserve Bank of India has on November 15,
2006 cancelled the certificate of registration granted to M/s Madhushree Enterprises
Private Limited (formerly known as Madhushree Finance and Allied Services Limited)
having its registered office at 301,15-7-406, 1st Floor, Begum Bazar, Hyderabad-500012
for carrying on the business of a non-banking financial institution as the company
has opted to exit from the business of a non-banking financial institution.
Following cancellation of registration certificate, M/s Madhushree Enterprises
Private Limited, cannot transact the business of a 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 institution is defined in clause (a) of Section 45-I of
the Reserve Bank of India Act, 1934.
Ajit Prasad
Manager
Press Release : 2006-2007/820
|