The Reserve Bank of India has on January 29, 2008 cancelled the certificate of registration granted to H.N. Trade International Limited having its registered office at 53/14, Naya Ganj, Kanpur (U.P.) for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, H.N. Trade International Limited cannot transact the business of a non-banking financial institution.

In exercise of 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 institution. 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.