The Reserve Bank of India, has on February 11, 2005 cancelled the certificate of registration issued to Mahatma Securities India Limited, having its registered office at Mahatma Bhavan, 1st Floor, Opp. R & B Guest House, Karimnagar-505 001 for carrying on the business of a non-banking financial institution.

Under powers conferred by Section 45IA 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.