NCLT: Suspended Directors Who are Prospective Resolution Applicants Cann’t Access Valuation Reports || Supreme Court Clarifies Test For Granting Bail to Accused Added at Trial under Section 319 CrPC || SC: Fresh Notification For Vijayawada ACB Police Station not Required After AP Bifurcation || SC: Studying in a Government Institute Does Not Create an Automatic Right to a Government Job || NCLT Mumbai: CIRP Claims Cannot Invoke the 12-Year Limitation Period For Enforcing Mortgage Rights || NCLAT: Misnaming Guarantor as 'Director' in SARFAESI Notice Doesn't Void Guarantee Invocation || Jharkhand HC: Mere Breach of Compromise Terms by an Accused Does Not Justify Bail Cancellation || Cal HC: Banks Cannot Freeze a Company's Accounts Solely Due To ROC Labeling a 'Management Dispute' || Rajasthan HC: Father’s Rape of His Daughter Transcends Ordinary Crime; Victim’s Testimony Suffices || Delhi HC: Judge Who Reserved Judgment Must Deliver Verdict Despite Transfer; Successor Can't Rehear

Expiry of Certificate of Authorization (CoA)- (Reserve Bank of India) (20 Oct 2016)

MANU/RPRL/0259/2016

Banking

Under the Payment and Settlement Systems Act, 2007, The Reserve Bank of India had issued Certificate of Authorization (CoA) to M/s Done Card Utility Ltd and M/s OSS Payment Solutions Pvt. Ltd to operate semi-closed pre-paid payment instruments services. The CoA were valid till October 31, 2013 and December 31, 2013 respectively. On expiry of the COA, these entities can no longer transact the business of semi-closed pre-paid payment instruments services in India under the Payment and Settlement Systems Act, 2007 and contravention, if any, would attract penal action under the said Act.

Tags : EXPIRY CERTIFICATE AUTHORIZATION

Share :