The
Reserve Bank of India has on June 02, 2008 cancelled the certificate of registration
granted to M/s. Fortis Financial Services Limited, having its registered office
at 255, First Floor, Okhla Industrial Estate, Phase-III, New Delhi-110020 for
carrying on the business of a non-banking financial institution. Following cancellation
of the registration certificate, M/s. Fortis Financial Services Limited, cannot
transact the business of a non-banking financial institution. By
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 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 : 2007-2008/1660 |
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