RBI cancels certificate of registration to Mukut Finlease

Mumbai, July 25 (UNI) The Reserve Bank of India (RBI) today cancelled the certificate of registration granted to Mukut Finlease Limited, having its registered office at Faizabad (UP) for carrying on the business of a non-banking financial institution.

Following cancellation of the registration certificate, Mukut Finlease 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, an RBI release said.

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