The Reserve Bank of India, has on June 4, 2003 cancelled the certificate of registration granted to Marichi Finance and Leasing Limited, having its registered office at 3-6-432, Himayatnagar, Hyderabad-500 029, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Marichi Finance and Leasing Limited cannot transact the business of a non-banking financial institution. Under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. P. V. Sadanandan
Manager Press Release : 2002-2003/1253 |