The Reserve Bank of India has on January 07, 2010 cancelled the certificate of registration granted to M/s. Karam Chand Thapar & Bros Limited having its registered office at Thapar House, 124, Janpath, New Delhi - 110001 for carrying on the business of a non-banking financial institution as the company has voluntarily exited from the business. 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 : 2009-2010/1099
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