Action on A P Udyog
Case Brief
In exercise of powers under Section 45-IA(6) of the RBI Act, 1934, the Reserve Bank of India cancelled the Certificate of Registration of 36 companies. The companies listed in the release are various NBFCs across multiple states. Following the cancellation, they are no longer permitted to transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.
The Reserve Bank of India cancelled the Certificate of Registration of 36 named companies under Section 45-IA(6) of the RBI Act, 1934. The release states that, as a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.
Severity Assessment
Cancellation of Certificate of Registration is a severity 5 licensing action that fully prevents the entities from carrying on NBFC business.
All 36 named companies lose their NBFC registration and cannot legally carry on non-banking financial institution business going forward. Any current or prospective NBFC operations must stop, affecting their customers and counterparties that rely on such regulated financial services.
Published as M/s Gajvadan Trades Pvt. Ltd.
Published as M/s Shivarpan Consultants Pvt. Ltd.
Published as M/s Sri Virat Finance Limited
Published as M/s Kents Finance Limited
Published as M/s LVS Finance Ltd.
Published as M/s The Jullundur Hire Purchase Limited
Published as M/s Promise Leasing and Finance Private Limited
Published as M/s Master Link Leasing and Finance Ltd.
Published as M/s South Wayanad Finance Private Limited
Published as M/s Baram Credits and Investments Private Ltd
Published as M/s A.P. Kakku Investments & Leasing Pvt. Ltd.
Published as M/s Ardent Consultancy Services (P) Limited
Published as M/s Poysha Commodities Private Limited
Published as M/s Sidlaw Commercials Private Limited
Published as M/s Vippy Hire Purchase and Leasing Company Private Limited
Published as M/s J K Prime Investment and Leasing (India) Limited
Published as M/s Hindon Mercantile Limited
Published as M/s Dilsher Finance Private Limited
Published as M/s A P Udyog Ltd
Published as M/s Strik Marketing (P) Ltd.
Published as M/s Shree Thirumala Auto Infin Private Limited
Published as M/s Nandini Finance Private Limited
Published as M/s Malhotra Fincap Limited
Published as M/s Thind Hire Purchase Private Limited
Published as M/s Global Leasing and Finance Limited
Published as M/s Shree Ganesh Investments and Industries Ltd.
Published as M/s Irinjalakuda Loans and Enterprises Private Limited
Published as M/s Royal Hire Purchase Private Limited
Published as M/s Sree Sankara Funds Private Limited
Published as M/s Jayarani Finance Private Limited
Published as M/s Ardents Consultancy Services Private Limited
Published as M/s Unilever Enterprises Ltd.
Published as M/s Unilever Enterprises Private Limited
Published as M/s KBS Trading Private Limited
Published as M/s Vishvaas Bharat Finance & Investment Pvt. Ltd.
Published as M/s Kartar Finlease Limited
Published as M/s Sidhant Investments Pvt. Ltd.
Published as M/s Golden India Leasing and Finance Ltd.