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The Reserve Bank of India, has on June 5,
2006 cancelled the certificate of registration granted to ERA Financial Services
(India) Limited, New Delhi having its registered office at 370, 371/2, Sahi
Hospital Road, Jangpura, Bhogal, New Delhi 110 014 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, ERA Financial Services (India) 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 :2005-2006/1594
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