Press Releases

The Reserve Bank of India, has on January 4, 2006 cancelled the certificate of registration granted to Adayar Finance & Leasing Limited, having its registered office at 208, Bharathi Salai, Royapettah, Chennai – 600 014 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Adayar Finance & Leasing 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 institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.