The Reserve Bank of India has on July 03, 2007 cancelled the certificate of registration granted to M/s. H.S.Sidhu Financiers Private Limited having its registered office at L 2/3, New Colony, Jail Road, Gurgaon, Haryana for carrying on the business of a non-banking financial institution as the company has opted to exit from the business of a non-banking financial institution. Following cancellation of the registration certificate, M/s. H.S.Sidhu Financiers Private 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.

Sabeeta Badkar
Assistant Manager

Press Release : 2007-2008/109