The Reserve Bank of India has on October 22, 2007 cancelled the certificate of registration granted to M/s. Sarv Finvest Limited, New Delhi having its registered office at F-207, Sikka Mansion, 5 LSC Savita Vihar, New Delhi-110092 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, M/s. Sarv Finvest Limited, New Delhi 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 :2007-2008/641 |
|