Fresh letter for cancellation of cor and resolution
This query is : Resolved
02 October 2014
Dear Sanjay sir,
kindly give a format of Letter and Resolution for given details as follows:-
1) Received letter from RBI that we observed from Balance sheet that your company's financial asset come down below 50% of Total Assets. However you have not yet approached us with a fresh request for cancellation of certificate of Registration ( COR ) issued by bank. you are advised to offer your comments explanation in this regards.
2) Submit fresh board resolution approving voluntary deregistration of CDR issued and another resolving not to conduct any NBFI activity in future without prior permission of Bank.
03 October 2014
Sorry Dear...Dont have the desired format...Wait for help from other experts...
25 July 2024
Certainly! Here's a draft format for the letter and resolutions as per your request:
---
**Letter to RBI for Cancellation of Certificate of Registration (COR)**
[Your Company Letterhead]
Date: [Date]
To,
The Regional Director,
Reserve Bank of India,
[Address]
Subject: Request for Cancellation of Certificate of Registration (COR)
Dear Sir/Madam,
We have received your letter dated [Date], wherein you have brought to our attention that our company's financial assets have fallen below 50% of our total assets, as observed from our balance sheet. We acknowledge this observation and appreciate your proactive communication.
We wish to submit our comments and explanations regarding the above observation:
- [Explain the reasons for the decrease in financial assets below 50% of total assets, if applicable.]
In light of this observation and our internal assessment, we hereby request the Reserve Bank of India to consider our application for the cancellation of the Certificate of Registration (COR) issued to us. We assure you of our full cooperation and compliance with all regulatory requirements.
Thank you for your attention to this matter. We look forward to your favorable consideration.
Yours sincerely,
[Your Name]
[Your Position]
[Company Name]
[Contact Information]
---
**Board Resolution for Voluntary Deregistration of CDR and Non-Conduct of NBFI Activity**
[Your Company Letterhead]
Date: [Date]
**RESOLUTION**
At a meeting of the Board of Directors of [Your Company Name] held on [Date], the following resolutions were passed unanimously:
**1. Voluntary Deregistration of Certificate of Debt Restructuring (CDR)**
"RESOLVED THAT pursuant to the letter received from the Reserve Bank of India (RBI) dated [Date], which observed that our company's financial assets have fallen below 50% of our total assets, the Board of Directors hereby approves the voluntary deregistration of the Certificate of Debt Restructuring (CDR) issued by the bank.
FURTHER RESOLVED THAT [Authorized Person's Name], [Position], be and is hereby authorized to take all necessary actions, sign and submit all necessary documents, applications, and correspondence to the RBI and any other relevant authorities for the voluntary deregistration of the CDR."
**2. Resolution not to conduct any Non-Banking Financial Institution (NBFI) Activity in Future without Prior Permission of Bank**
"RESOLVED THAT the Board of Directors hereby resolves that [Your Company Name] shall not conduct any Non-Banking Financial Institution (NBFI) activities in the future without obtaining prior permission from the Reserve Bank of India (RBI) or any other relevant regulatory authority.
FURTHER RESOLVED THAT [Authorized Person's Name], [Position], be and is hereby authorized to communicate this resolution to the RBI and any other relevant authorities, and to take all necessary actions in this regard."
Certified true copy:
_________________________ _________________
[Director's Name], Director Date
---
Please ensure to customize the placeholders ([Your Company Name], [Date], [Your Name], etc.) with your specific details before sending out the letter and adopting the resolutions.
---
**Letter to RBI for Cancellation of Certificate of Registration (COR)**
[Your Company Letterhead]
Date: [Date]
To,
The Regional Director,
Reserve Bank of India,
[Address]
Subject: Request for Cancellation of Certificate of Registration (COR)
Dear Sir/Madam,
We have received your letter dated [Date], wherein you have brought to our attention that our company's financial assets have fallen below 50% of our total assets, as observed from our balance sheet. We acknowledge this observation and appreciate your proactive communication.
We wish to submit our comments and explanations regarding the above observation:
- [Explain the reasons for the decrease in financial assets below 50% of total assets, if applicable.]
In light of this observation and our internal assessment, we hereby request the Reserve Bank of India to consider our application for the cancellation of the Certificate of Registration (COR) issued to us. We assure you of our full cooperation and compliance with all regulatory requirements.
Thank you for your attention to this matter. We look forward to your favorable consideration.
Yours sincerely,
[Your Name]
[Your Position]
[Company Name]
[Contact Information]
---
**Board Resolution for Voluntary Deregistration of CDR and Non-Conduct of NBFI Activity**
[Your Company Letterhead]
Date: [Date]
**RESOLUTION**
At a meeting of the Board of Directors of [Your Company Name] held on [Date], the following resolutions were passed unanimously:
**1. Voluntary Deregistration of Certificate of Debt Restructuring (CDR)**
"RESOLVED THAT pursuant to the letter received from the Reserve Bank of India (RBI) dated [Date], which observed that our company's financial assets have fallen below 50% of our total assets, the Board of Directors hereby approves the voluntary deregistration of the Certificate of Debt Restructuring (CDR) issued by the bank.
FURTHER RESOLVED THAT [Authorized Person's Name], [Position], be and is hereby authorized to take all necessary actions, sign and submit all necessary documents, applications, and correspondence to the RBI and any other relevant authorities for the voluntary deregistration of the CDR."
**2. Resolution not to conduct any Non-Banking Financial Institution (NBFI) Activity in Future without Prior Permission of Bank**
"RESOLVED THAT the Board of Directors hereby resolves that [Your Company Name] shall not conduct any Non-Banking Financial Institution (NBFI) activities in the future without obtaining prior permission from the Reserve Bank of India (RBI) or any other relevant regulatory authority.
FURTHER RESOLVED THAT [Authorized Person's Name], [Position], be and is hereby authorized to communicate this resolution to the RBI and any other relevant authorities, and to take all necessary actions in this regard."
Certified true copy:
_________________________ _________________
[Director's Name], Director Date
---
Please ensure to customize the placeholders ([Your Company Name], [Date], [Your Name], etc.) with your specific details before sending out the letter and adopting the resolutions.
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