The Reserve Bank of India has on February 17, 2014 cancelled the certificate of registration No.B-09.00302, issued to Manchanda Finlease Private Limited, having its registered office at 1-2-412/18/C, 104, Gagan Mahal Colony, Hyderabad-500 029 for carrying on the business of a non-banking financial institution as the company has voluntarily exited from carrying on NBFI activities. 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: 2013-2014/1878