The Reserve Bank of India has on July 25, 2007 cancelled the certificate of registration granted to Financial Eyes (India) Limited, having its registered office at H-41, 2nd Floor, Masjid Mota, Greater Kailash Part I, New Delhi-110048 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Financial Eyes (India) Limited cannot transact the business of a non-banking financial institution.

Under powers conferred by 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.