CLVL gets approval to incorporate NBFC under name of Cordoba Leasing

MG News | August 26, 2022 at 04:27 PM GMT+05:00

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August 26, 2022 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has allowed Cordoba Logistics & Ventures Limited (CLVL) to incorporate a Non-Banking Finance Company (NBFC) under the name and style of Cordoba Leasing Limited, a company’s filing on PSX said.

In this regard, SECP issued a “Permission Order” yesterday, allowing the company to form NBFC.

It is subject to completion of regulatory requirements by the company; under Rule 4 (2) of the Non-Banking Finance Companies (Establishment & Regulation) Rules, 2003.

On April 28, 2022, the Board of Directors approved setting up a wholly owned NBFC, as a subsidiary of CLVL, for carrying out leasing business.

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