The Reserve Bank of India has on November
20, 2006 cancelled the certificate of registration granted to Vikas Profin Limited,
New Delhi having its registered office at 34/1, Vikas Apartments, East Punjabi
Bagh, New Delhi - 110026 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, Vikas
Profin 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.
P.V.Sadanandan
Manager
Press Release : 2006-2007/862
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