The Reserve Bank of India has on April 2, 2008 cancelled the certificate of registration granted to Maithri Financial Services Limited, having its registered office at H.No.6-3-661/6, Plot No.12, Sangeeth Nagar, Somajiguda, Hyderabad-500082 for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, Maithri Financial Services Limited, 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.