The Reserve Bank of India, has on July 16, 2005 cancelled the certificate of registration issued to Haridas Finance and Leasing Limited having its registered office at 301, Chenoy Trade Centre, Parklane, Secunderabad-500 003 for carrying on the business of a non-banking financial institution.

Under powers conferred by Section 45-IA of the Reserve Bank of India Act, 1934, the Reserve Bank can cancel the registration certificate of non-banking financial company. The business of a non-banking financial institution is defined in clause (a) of Section 45-IA of the Reserve Bank of India Act, 1934.