The Reserve Bank of India has on August 7, 2008 cancelled the certificate of registration granted to M/s. Chartered Finance Management Limited having its registered office at 33, Sharada Sadan, 11, S.A. Brelvi Road, Fort, Mumbai-400001 carrying on the business of a non-banking financial institution as the company has opted to exit from the business of a non-banking financial institution. Following cancellation of the registration certificate, M/s. Chartered Finance Management Limited, cannot transact the business of a non-banking financial institution.

Under powers conferred by 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.

Ajit Prasad
Manager

Press Release : 2008-2009/368