The Reserve Bank of India has on March 18, 2008 cancelled the certificate of registration granted to M/s. Sahil Financial Services Ltd. having its registered office at S-8 & S-2, DDA Shopping Complex, Opposite to Pocket I, Mayur Vihar Phase I, Delhi - 110091 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, M/s. Sahil Financial Services Ltd., 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

Press Release :2007-2008/1356