The Reserve Bank of India, has on December 26, 2005 cancelled the certificate of registration issued to Harrison Malayalam Financial Services Ltd., having its registered office at Briston Road, Willingdon Island, Kochi-682 003 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of 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 non-banking financial company. The business of a non-banking financial institutions is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.