RBI cancels certificate of registration of Laxman Printers

Mumbai, May 26 (UNI) The Reserve Bank of India (RBI) today cancelled the certificate of registration of M/s Laxman Printers Private Limited, having its registered office at New Delhi, for carrying on business of a non-banking financial institution.

Following cancellation of the registration certificate, the Company, cannot transact the business of a non-banking financial institution, a RBI release said.

By the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934, the RBI can cancel the registration certificate of a company for carrying out non-banking financial business, as per the definition of business of a non-banking financial institution in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

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