The Reserve Bank of India has on January 17, 2012 cancelled the certificate of registration No.07.00353 dated November 6, 1998, issued to LSP Finance Limited., having its registered office at No.12, Ponneri High Road, Manali New Town, Chennai-633103 for carrying on the business of a non-banking financial institution on the supervisory grounds. Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution.

By 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 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
Assistant General Manager

Press Release: 2011-2012/1512