Following cancellation of registration certificate, Al-Ameen Islamic Financial & Investment Corporation (India) Ltd. cannot transact the business of a non-banking financial institution. The company has also been prohibited from acceptance of deposits until further orders and prohibited from alienation of assets without prior written permission of the Reserve Bank.

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. Under Section 45MB (1) of this Act, the Reserve Bank can prohibit non-banking financial company for accepting deposits; and under Section 45MB (2), it can prohibit the company from alienating its assets. The business of a non-banking financial institutions is defined in clause (a) of Section 45IA of the Reserve Bank of India Act, 1934.