Kirloskar Industries announced that the company had on 17 June, 2019 made an application to Reserve Bank of India (RBI) for declassification of the Company as a Core Investment Company.
In reply to the said application, RBI has communicated to the Company vide letter dated 27 September 2019 that request of the Company cannot be acceded to since the Company was found to be conducting NBFI activity.
The Company is in the process of making suitable representations to the RBI in this connection.
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