The company was also not complying with the extant regulations pertaining to charging of excessive interest and ensuring confidentiality of customer information, release added.
The Reserve Bank of India (RBI) has granted approval for Reliance Home Finance s voluntary exit from the home finance business. Authum Investment and Infrastructure Ltd, which acquired Reliance Home Finance a year ago, has proposed the voluntary liquidation. The housing finance company plans to execute a slump sale of all assets to Reliance Commercial Finance Ltd, another company acquired by Authum Investment.
Sampada Business Solutions submitted the certificate of registration due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that does not require registration.
“The act is very clear as Clause 10 explicitly stipulates that no person shall be permitted to teach at a school in Fiji unless the person is the holder of a Certificate of Registration.”.