The Reserve Bank of India has on May 12, 2010 cancelled the certificate of registration granted on March 31, 1998 to Mahagauri Investments Ltd., having its registered office at 83, C. Hansraj Pragji Building, 1st Floor, Kharat Lane, Off Dr. E. Moses Road, Worli, Mumbai - 400 018 for carrying on 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.

By 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 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 : 2009-2010/1784