The Reserve Bank of India has on June 7, 2010 cancelled the certificate of registration granted on March 11, 1998 to M/s. Greenbay Finance and Investments Limited having its registered office at Plot No. 15 & 16, Road No. 9, Jubilee Hills, Hyderabad - 500 033 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business. 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.

Ajit Prasad
Manager

Press Release : 2010-2011/2