The Reserve Bank of India has on January 31, 2013 cancelled the certificate of registration No. B-09.00397 dated February 19, 2002, issued to Vilas Finance & Investment Limited, having its registered office at 5-37-27, 2nd Floor, 4/2 Brodipet, Guntur-522002 for carrying on the business of a non-banking financial institution as the company has voluntarily exited from carrying on NBFI activities. 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 : 2012-2013/1581