The Reserve Bank of India has on June 06, 2007 cancelled the certificate of registration granted to M/s. U.P. Motor and General Finance Company Private Limited having its registered office at B-1-594, Second Floor, Janak Puri, New Delhi – 110058 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. U.P. Motor and General Finance Company 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 :2006-2007/1787 |
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