September 8, 2004
The Reserve Bank of India, has on September 1, 2004 cancelled
the certificate of registration granted to M/s. Chillakuru Investments Private
Limited having its registered office 6-3-348, Salopoia, Dwarakapuri Colony,
Punjagutta, Hyderabad-500 082 for carrying on the business of a non-banking
financial institution.
Following cancellation of registration certificate, M/s.
Chillakuru Investments Private Limited cannot transact the business of a non-banking
financial institution.
Under powers conferred by Section 45IA of the Reserve Bank
of India Act, 1934, the Reserve Bank can cancel the registration certificate
of non-banking financial company. The business of a non-banking financial institutions
is defined in clause (a) of Section 45IA of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release : 2004-2005/268
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