Action on Eita Services Private
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of 28 NBFCs under Section 45-IA(6) of the RBI Act, 1934. The release lists each company and the date of cancellation, and states that the above companies shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the Act.
In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration (CoR) of 28 named companies. Following cancellation, the release states that 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 the Certificate of Registration is a licence cancellation, which is a severity 5 action regardless of any other factors.
All 28 listed companies lose their NBFC registration and must stop carrying on non-banking financial institution business. This directly affects the entities themselves and any customers, lenders, and counterparties relying on their NBFC operations.
Published as Nirmal Fin Lease (India) Limited
Published as Chordia Capital Market Limited
Published as Naresh Engineers Limited
Published as Harita Prema Private Limited
Published as Saurabh Management Private Limited
Published as Madhur Estates & Agencies Pvt. Ltd.
Published as Pavapuri Trading & Investment Company Ltd.
Published as Maniyar Barter Private Ltd.
Published as E.I.Investments Private Limited
Published as Sandal Commercial and Financial Services Limited
Published as Eita Services Private Limited
Published as Jawakusum Commotrade (P) Ltd.
Published as Travol Tie-Up Private Limited
Published as Classic International Limited
Published as Aishwarya Finance Private Limited
Published as Kshitiz Consultants Private Limited
Published as Nippy Trading Private Limited
Published as Bijco Holdings Ltd.
Published as Rajat Leasing Limited
Published as Mahanagar Commercial Co. Ltd.
Published as Srinidhi Infin Limited
Published as Kothari-Barmecha Finance Limited
Published as Microsupport Financial Services Limited (previously known as Moparthy Finance Limited)
Published as Valluvar Development Finance Private Limited (previously known as Vairams Hire Purchase Private Limited)
Published as Gautam Hire Purchase Limited
Published as Singhvi Finlease (India) Limited
Published as Vardhman Capital Services Ltd.
Published as Sabharwal Finance and Estates Private Limited