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The Reserve Bank of India, has on April
25, 2006 cancelled the certificate of registration granted to Kirti International
Finance Limited, Ahmedabad, having its registered office at 1, Kirti House,
Near H.K. House, Ashram Road, Ahmedabad-380009, Gujarat for carrying on the
business of a non-banking financial institution as the company has opted to
exit from the business of a non-banking financial institution. Following cancellation
of registration certificate, Kirti International 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 institution is defined in clause (a) of Section 45-I of
the Reserve Bank of India Act, 1934.
P.V.Sadanandan
Manager
Press Release : 2005-2006/1448
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