The Reserve Bank of India has on August 07, 2007 cancelled the certificate of registration granted to Bhairav Leasing and Finance Private Limited, having its registered office at Flat No. 203, Hemkunt Tower, 98, Nehru Place, New Delhi-110019 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Bhairav Leasing and Finance Private 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.