RBI UPDATE

RBI CANCELS CERTIFICATE OF REGISTRATION OF 26 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the 26 (twenty six) non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934

List of cancelled NBFCs

M/s Labh Lease and Finance Ltd

M/s Advantage Finvest Limited

M/s Mathura Financial Services Limited

M/s Wizard Fincap Limited

M/s M.J.K. Mercantiles Private Limited

M/s Avorik Vyapaar Pvt. Ltd.

M/s Bengani Resources Private Limited
(Formerly known as Mayuri Vinimay Private Limited)

M/s Bajaj Auto Holdings Limited

M/s Alpha General Leasing & Finance Private Limited

M/s Binikom Vyapaar Pvt. Ltd.

M/s MIS Consultants Private Limited

M/s S.J.Finance & Consultants Private Limited

M/s Ganpati Vincom Private Limited
(Presently, Savi Global Realtors Limited)

M/s Delton Impex (P) Ltd

M/s Abirami Financial Services [India] Limited

M/s ITI Capital Markets Limited

M/s Breakeven Business Credits Private Limited

M/s Pathik Overseas Limited

M/s J.M.B. Commercial & Credit Ltd.

M/s Esjay Estates Ltd.

M/s Cosmat Investment Pvt. Ltd.

M/s Pavai Trading Co. Pvt. Ltd.

M/s Modern Vintrade Private Limited

M/s Swadhaar Finserve Private Limited

M/s Punwire Holdings Limited

M/s IDFC Finance Limited