Press Releases

The Reserve Bank of India has on April 18, 2007 cancelled the certificate of registration granted to Sampann Finance Limited having its registered office at 201, Bhopa Road, Civil Lines, Muzaffarnagar – 251001 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, Sampann Finance 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.