The Reserve Bank of India has on May 21, 2008 cancelled the certificate of registration granted to Nelfin (India) Private Limited, having its registered office at 1st Floor, Dayakara Reddy Buildings, Nellore-524003 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, Nelfin (India) Private Limited, 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.