The Reserve Bank of India has prohibited M/s. Kirloskar Investments & Finance Ltd., having its registered office at Unity Building, J. C. Road, Bangalore-560 002 with immediate effect from accepting public deposits from any person, in any form whether by way of fresh deposits or renewal of the existing deposits or otherwise, until further order. The company has violated various provisions of the Reserve Bank of India Act, 1934.

The Reserve Bank of India has also directed the Company, in the public interest, not to sell transfer, create charge or mortgage or deal in any manner with its properties and assets, without prior written permission of the Reserve Bank of India.