The Reserve Bank of India has on May 5, 2009 cancelled the certificate of registration granted to Jaybeear Investments and Finance Private Limited having its registered office at No.D-10, 2nd Floor, Devatha Plaza, 131, Residency Road, Bangalore-560025 for carrying on the business of a non-banking financial institution as the company has opted to exit 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.
Ajit Prasad
Manager
Press Release : 2008-2009/1987 |
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