The Reserve Bank of India, has on
June 20, 2005 cancelled the certificate of registration issued to Labham Finance
Limited having its registered office at 7-2-709, Pot Market, Secunderabad-500
003 for carrying on 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 institution is defined in clause (a) of Section 45IA of
the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release :2004-2005/1353
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