Roselabs Finance Ltd Company Summary

Roselabs Finance Ltd Summary

Roselabs Finance Limited, a part of Lodha Group, was incorporated on 4th January, 1995. Initially, the Company was engaged in the business of Non-Banking Finance. In year 2012-13, through the open offer formalities as prescribed under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the Company became a direct subsidiary of Arihant Premises Private Limited and step down subsidiary of Lodha Developers Private Limited, w.e.f. 10th June, 2013. Accordingly in terms of the open offer, erstwhile promoters, Poonam Fast foods Pvt. Ltd ceased to be the promoter of the Company and Arihant Premises Private Limited became the Promoter of the Company w.e.f. 10th June, 2013.In 2018-19, the Company had applied to Reserve Bank of India for voluntary deregistration of the Companys Certificate of Registrationas a Non-Banking Financial Institution in July 2017. This was approved by RBI vide order dated July 18, 2018. Pursuant to cancellation of the Certificate of Registration, the Company is not permitted to pursue any NBFC activity. At present, the Company has changed it object clause to real estate development.