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The Reserve Bank of India has on January 15, 2008 cancelled the certificate of registration granted to VBC Finance & Leasing Limited having its registered office at 6-2-913/914, Ground Floor, Progressive Towers, Khairatabad, Hyderabad - 500004 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, VBC Finance & Leasing 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 : 2007-2008/1030 |
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