The Reserve Bank of India has on July 03, 2007 cancelled the certificate of registration granted to Tirupati Services Limited, having its registered office at B-6, Chiranjeev Towers, 43, Nehru Place, New Delhi-110019 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Tirupati Services 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

Press Release :2007-2008/265