Press Releases

The Reserve Bank of India has on September 27, 2007 cancelled the certificate of registration granted to M/s Sri Vishnudarshan Finance and Investments Ltd., having its registered office at No.9 & 10, Yadunandana Complex, Subramanyapura Road, Kadirenahalli, Bangalore-560070 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 Sri Vishnudarshan Finance and Investments Ltd. 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 a 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.