The Reserve Bank of India has cautioned members of public against misuse of certificate of registration issued by it to Keshavlal Leasing and Finance Limited. The Reserve Bank stated that the company has not surrendered the original certificate. It had cancelled the certificate in October 2014 in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Following cancellation of registration certificate, the company cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Ajit Prasad
Assistant General Manager

Press Release: 2014-2015/1188