The Reserve Bank of India has
on November 30, 2007 cancelled the certificate of registration granted to Shani
Financial Services Private Limited having its registered office at Goel Chamber,
IInd Floor, Shyamganj, Bareilly (U.P.) for carrying on the business of a non-banking
financial institution. Following cancellation of registration certificate, Shani
Financial Services 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 a non-banking financial institution. 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 : 2007-2008/798 |
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