NEW DELHI (INDIA): India Cements Capital Ltd, part of India Cements group, on Friday said it will surrender its registration for non-banking finance company to banking regulator RBI.
The board at its meeting held today “has considered and decided to surrender the certificate of registration as ‘non- banking finance company’ without accepting public deposits to the Reserve Bank of India”, the company said in a regulatory filing.
India Cements Capital Ltd (ICCL) provides various financial services such as money changing and advisory on the forex market to exporters and importers.
ICCL’s subsidiary India Cements Investment Services is into share broking activities. The company deals in cash market and futures and options, among others.
Source: Press Trust of India