Roselabs Finance intimates of communication received from RBI

For voluntary exit from NBFC business

Roselabs Finance announced that the Company has received a letter from RBI suggesting that the Company may apply to RBI for voluntary exit from NBFC business by submitting/surrendering all relevant documents including Certificate of Registration issued by RBI, on account of non-satisfaction of the following requirements of RBI as on 31 March 2016 as are applicable to NBFC;

1. Minimum Net Owned Fund of Rs. 1 crore

2. Maximum leverage of 7 times

3. Financial assets of more than 50%

The Company is in discussion with RBI in this regard.

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