The Reserve Bank of India has on December 19, 2007 cancelled the certificate of registration granted to M/s. Vidyut Investment Limited having its registered office at A-11, Industrial Area, Phase-III, S.A.S. Nagar – 160055 (Punjab) for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, M/s. Vidyut Investment Limited cannot transact the business of a non-banking financial institution.
In exercise of the powers conferred under 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.
Ajit Prasad
Manager
Press Release : 2007-2008/984 |
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