The Reserve Bank of India has on May 18, 2009 cancelled the certificate of registration granted to Vembu Investments Private Limited having its registered office at New No.9, (Old No.5A), Porur Street, East Tambaram, Chennai-600059 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 the company 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. 

J.D.Desai
Assistant Manager

Press Release : 2009-2010/20