The Reserve Bank of India in exercise of the powers, conferred on it under Section 45K read with Section 45MB(1) of the Reserve Bank of India Act, 1934 has prohibited Ajmani Leasing & Finance Ltd., Bus Station Road, Lakhimpur Kheri (U.P.) from accepting deposits with effect from July 19, 1999 in any form, whether by way of fresh deposits or renewal or otherwise.

Further, in exercise of the powers conferred on it under Section 45MB(2) of the Reserve Bank of India Act, 1934, the Reserve Bank has directed Ajmani Leasing & Finance Ltd., not to sell, transfer, create charge or mortgage or deal in any manner with its property and assets without prior permission of the Bank.