Action on 30 NBFCs
Case Brief
RBI, using its powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 30 NBFCs. The release lists each affected company and notes that, as a result, they shall not transact the business of a Non-Banking Financial Institution as defined in 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 of 30 named companies. 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 Certificates of Registration is a license cancellation, which carries the maximum structural severity of 5.
All 30 named companies lose their NBFC registration and are barred from carrying on non-banking financial institution business. This directly affects their ability to continue regulated lending/finance activities as NBFCs.
Published as Padmavati Leasing and Credits Private Limited
Published as R.P. Narang Finance Investment & Leasing Pvt. Ltd.
Published as Prem Finsec Private Limited
Published as Tee Kay Finvest Limited
Published as RVS Financial Services Limited
Published as Bank Street Finance & Leasing Private Limited (Presently known as Trozen Finance & Securities Pvt. Ltd.)
Published as Rozina Finance Investment and Leasing Company Private Limited
Published as Param Investments Private Ltd.
Published as RKDK Corp. Ltd.
Published as Novarima Distributors (P) Ltd. (Presently known as Parshwa Impex Private Limited)
Published as Amluckie Investment Co. Ltd.
Published as Spotme Tracon Pvt. Ltd.
Published as Senilis Trading Syndicate Ltd.
Published as Panchwati Finlease Private Limited
Published as Raju Shree Capitals Private Limited
Published as Udhav Investments Private Limited
Published as R.R. Corporate Securities Limited
Published as P.N.F Leasing & Finance Limited
Published as Praja Securities Limited
Published as Vineet Leasing Pvt. Ltd.
Published as Ujala Commercials Limited
Published as Parnika Investments Private Limited
Published as Rosedale Marketing Limited
Published as Asha Metals Pvt. Ltd.
Published as Raj Pushp Finance & Investment Private Limited
Published as Mantri Holdings Ltd.
Published as Avinash Exim Private Limited
Published as Prasha Finance & Leasing Private Limited
Published as Pranav Securities Private Limited
Published as RVL Finance & Investments Private Limited