The Reserve
Bank of India has on December 15, 2006 cancelled the certificate of registration
granted to Sanghamitra Leafin Limited having its registered office at D.No.27-6-15,
Prakasam Road, Governorpet, Vijayawada - 520002 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, Sanghamitra Leafin 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 : 2006-2007/1053
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