The Reserve Bank of India has on September 15, 2011 cancelled the certificate of registration No.09.00044 dated March 2, 1998 issued to M/s. Canaan International Creditcap Limited, having its registered office at Plot No. W 4/510, Usmanasahebpet, Stonehousepet, Nellore-524002, Andhra Pradesh for carrying on the business of a non-banking financial institution. 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: 2011-2012/781