FORTIS FINANCIAL SERVICES TO SURRENDER NBFC LICENCE

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Ranbaxy group-promoted Fortis Financial Services has said that it would make an application to the Reserve Bank of India to surrender the non-banking financial company (NBFC) licence. The board of directors of the company, at its meeting on January 5, has approved to make an application for surrendering the NBFC licence subject to RBI and its shareholders approval, Fortis Financial said in a filing to the BSE. The company would alter the main objects so as to carry on IT and IT-enabled services, it added.

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