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The Reserve Bank of India, has on September
12, 2005 cancelled the certificate of registration granted to Hallmark Leasing
& Finance Limited, having its registered office at No.36, Halls Road, Egmore,
Chennai-600008 for carrying on the business of a non-banking financial institution.
Following cancellation of registration certificate,
Hallmark Leasing & Finance Limited cannot transact the business of a non-banking
financial institution.
Under powers conferred by Section 45-IA
(6) 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 45-I
of the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release: 2005-2006/345
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