The Reserve Bank of India, has on April 17, 2006 cancelled the certificate of registration granted to Confidence Credit and Investment Limited, having its registered office at No.17, Padi Pudu Nagar, Main Road, Anna Nagar, West Extension, Chennai-600101, for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Confidence Credit and Investment 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 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.