Mortgage firm regulator National Housing Bank (NHB) today announced cancellation of licence of Kerala Housing Finance Ltd.
The bank has cancelled the Certificate of Registration of Kerala Housing Finance Ltd in exercise of the powers conferred on it under Section 29A(6) of the National Housing Bank Act, 1987, NHB said in a statement.
However, the regulator did not specify the exact reason of cancellation except specific section of the act under which the licence was cancelled.
"Following the cancellation of registration certificate, the above company cannot transact the business of a housing finance institution...," it said.
Kerala Housing Finance Limited was incorporated in 1992 as a public limited company and has 28 branches across Kerala.
