The Reserve Bank of India, has
on June 25, 2005 cancelled the certificate of registration issued to Kelachandra
Leasing and Finance Limited having its registered office at No.16, St. Mark's
Road, Bangalore-560 001 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: 2005-2006/33
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