The Reserve Bank of India has on June 3, 2010 cancelled the certificate of registration granted on May 24, 2000 to Zoom Exports Limited having its registered office at 98, Hardsoft Towers, 21st Main, Banashankari 2nd Stage, Bangalore - 560070 for carrying on the business of a non-banking financial institution as the company has opted to exit from the business. Following cancellation of the registration certificate the company 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 : 2010-2011/3