The Reserve Bank of India has on May 20, 2008 cancelled the certificate of registration granted to Haryana Saving Units Private Limited having its registered office at 'SER House' No.31/61, II Main Road, Vyalikaval, above State Bank of Mysore, Bangalore-560003 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, Haryana Saving Units 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.

Ajit Prasad
Manager