| The Reserve Bank of India has on November 11, 2008 cancelled the certificate of registration granted to M/s. Rangers Commercial Pvt. Ltd. having its registered office at Office No. 1, Impex Palace, Near Dogra Hall, New Secretariat Road, Jammu-180001, for carrying on the business of a non-banking financial institution as the company has voluntarily exited from the business of a non-banking financial institution. Following cancellation of the registration certificate the company 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 GeneralManager
Press Release : 2008-2009/1188 |
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