Sahara group firm exits NBFC business
Subrata Roy-promoted Sahara India Investment Corporation Ltd (SIICL) has exited the non-banking financial business.Updated: Sep 12, 2008, 17:11 IST
Subrata Roy-promoted Sahara India Investment Corporation Ltd (SIICL) has exited the non-banking financial business.
"SIICL, which is one of the group companies belonging to Sahara group, as such cannot transact the business of non- banking financial institutions," RBI said in a press release on Friday.
The RBI release said SIICL has voluntarily exited the non-banking financial business and that its certificate of registration has been cancelled as of August 11, 2008.