The
Reserve Bank of India has on July 20, 2007 cancelled the certificate of registration
granted to SSJ Finance & Securities (P) Limited, having its registered office
at 1st Floor, Suryaahal, 5, Burjorji Bharucha Marg, Fort, Mumbai-400023 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, SSJ Finance & Securities (P) 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 a 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 : 2007-2008/193 |