| The Reserve Bank of India has
on June 7, 2007 cancelled the certificate of registration granted to Siri Malle
Finance Limited having its registered office at 6-3-667/4, III Floor, flat No.
302, Sirimalle Towers, Panjagutta, Hyderabad – 500082 for carrying on the business
of a non-banking financial institution. Following cancellation of registration
certificate, Siri Malle 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. Ajit
Prasad
Manager Press
Release :2006-2007/1811 |