The Reserve Bank of India has on November 14, 2006 cancelled the certificate of registration granted to Maha Seer Investment Private Limited, New Delhi having its registered office at Flat No. 43, B - Block, Middle Circle, Connought Place, New Delhi - 110001 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 registration certificate, Maha Seer Investment 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 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.