1999 (1) TMI 409

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....ner is its shareholder. The petitioners filed an application as per Annexure - D dated 8-7-1997 to the Reserve Bank of India for registration under section 45(IA) of the Reserve Bank of India Act. The said application was returned vide Annexure-H on the ground that a non-banking company should have submitted application before 8-7-1997 and the application was not submitted by the petitioner within....

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...., and, for the purpose of including the last in a series of days or any other period of time, to use the word 'to'." A reading of the above provision makes it clear that for the purpose of commencement of time, the first in a series of days or any other period of time must be excluded. Admittedly the application was submitted by the petitioners on 8-7-1997. If the first day is excluded as contemp....