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The Reserve Bank of India has on May 15,
2006 cancelled the certificate of registration granted to M/s. A.P.Tourism Finance
Limited, Hyderabad having its registered office at 305 & 312, 'A' Block,
3rd floor, A.P.Secretariat, Hyderabad – 500 022 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, M/s. A.P.Tourism 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 : 2005-2006/1629
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