TTI Enterprise Limited has disclosed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that it received a communication from the Reserve Bank of India (RBI) dated [date not specified in disclosure] rejecting the company's application for voluntary surrender of its Certificate of Registration (CoR) as a Non-Banking Financial Company (NBFC).
The company had previously submitted an application to the RBI seeking voluntary surrender of its NBFC registration as it intended to discontinue its NBFC business. However, the RBI has not accepted this application.
As a result of this rejection, the company's Certificate of Registration as an NBFC continues to remain valid. TTI Enterprise is now obligated to continue complying with all applicable provisions of the Reserve Bank of India Act, 1934, the directions issued by the RBI from time to time, and all other applicable laws governing NBFCs.
The company is currently examining the observations made by the RBI in its communication and will take such further steps as may be considered appropriate. This may include submission of additional information/clarifications or filing a fresh application for surrender of the NBFC registration, if required.