The Reserve Bank of India, has on November 22, 2004 cancelled the certificate of registration granted to M/s BRR Leafin Private Limited having its registered office at 6-3-666/A/102, Lumbini Towers, Punjagutta, Hyderabad-500082 for carrying on the business of a non-banking financial institution.

Following cancellation of registration certificate, M/s BRR Leafin Private Limited, cannot transact 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 45IA of the Reserve Bank of India Act, 1934.