The Reserve Bank of India has on June 18, 2008 cancelled the certificate of registration granted to M/s Nawanshahr Doaba Finlease Private Limited, having its registered office at Nawanshahr, Garshankar Road, Nawanshahr - 144514 (Punjab) for carrying on the business of a non-banking financial institution. Following cancellation of the registration certificate, M/s Nawanshahr Doaba Finlease Private 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.

Ajit Prasad
Manager

Press Release : 2008-2009/11