|
| Exchange Disseminated Time 18/08/2015 15:55:33 | Religare Enterprises Ltd has informed BSE that :
"This is with reference to the news item appearing in various media channels/reports today stating that Reserve Bank of India ("RBI") has cancelled the NBFC license of Religare Finance.
In this regard, we would like to inform you that Religare as a Group had NBFC licenses in two of its entities, namely Religare Finvest Limited and Religare Finance Limited. We conduct our SME lending business through Religare Finvest limited. The other NBFC namely, Religare Finance Limited was a non-operative, dormant entity through which no business was being conducted. We therefore, decided to voluntarily surrender this NBFC license and accordingly applied to RBI to cancel the license. RBI has accepted our surrender application and has accordingly cancelled the license of Religare Finance Limited vide its order dated April 8, 2015. Our SME focused NBFC, Religare Finvest Limited, continues to carry on the lending business." |
|
|