The
Reserve Bank of India has on November 19, 2007 cancelled the certificate of registration
granted to M/s. Evergrowing Iron and Finvest Limited, New Delhi having its registered
office at 17, Jor Bagh, New Delhi-110013 for carrying on the business of a non-banking
financial institution. Following cancellation of registration certificate, M/s.
Evergrowing Iron and 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. G. Raghuraj
Deputy General Manager Press Release : 2007-2008/779
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