The Reserve Bank of India has on June 17, 2009 cancelled the certificate of registration granted to Kuzhiyathu Hire Purchase & Finance Private Limited,having its registered office at 553/IV,Cheriyanad,Mampra P.O.Chengannur,Kerala for carrying on the business of a non-banking financial institution.Following cancellation of the registration certificate the company cannot transact the business of a non-banking financial institution.

By the powers conferred under 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.

J.D. Desai
Assistant Manager

Press Release : 2009-2010/106