Press Releases

The Reserve Bank of India has on February 11, 2008 cancelled the certificate of registration granted to Coastal Construction Leasing Private Limited having its registered office at # 201, Regency House, 680, Somajiguda, Hyderabad – 500082 (since shifted to 4th Floor, Hotel Green Park, 7-1-26, Greenlands, Begumpet, Hyderabad - 500016) as the company has opted to exit from the business of a non-banking financial institution. Following cancellation of the registration certificate, Coastal Construction Leasing Private Limited cannot transact the business of a non-banking financial institution.

In exercise of the powers conferred under 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 institution. 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.