The Reserve Bank of India has on August 14, 2007 cancelled the certificate of registration granted to Metfam Industries Limited, having its registered office at D-196, Defence Colony, New Delhi-110024 for carrying on the business of a non-banking financial institution. Following cancellation of registration certificate, Metfam Industries 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 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 : 2007-2008/402