Action on Vishwajeet Financiers
Case Brief
In this release, the Reserve Bank of India cancelled the Certificate of Registration of 31 companies under Section 45-IA(6) of the RBI Act, 1934. The order covers the listed firms, including entities such as Vishwajeet Financiers Ltd., Pankaj Investments Ltd., and others across several states. Following cancellation, these companies are prohibited from transacting business as non-banking financial institutions under the RBI Act.
The Reserve Bank of India cancelled the Certificate of Registration of 31 companies under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The companies listed in the release are therefore no longer permitted to carry on the business of a Non-Banking Financial Institution as defined in clause (a) of Section 45-I of the RBI Act, 1934.
Severity Assessment
Cancellation of Certificates of Registration is a full licence cancellation, which the rubric classifies at severity 5 regardless of any other factors.
All 31 named companies lose their RBI registration and must stop carrying on NBFC business. Customers, counterparties, and other stakeholders should not treat them as authorised non-banking financial institutions going forward. The restriction is effective from the respective cancellation dates listed in the release.
Published as Vishwajeet Financiers Ltd. (Presently known as Vishwajeet Financiers Pvt. Ltd.)
Published as Maxwell Wood Products (P) Limited
Published as Rajesh Viniyog Pvt. Ltd.
Published as Anscor Credit Capital Private Limited
Published as Sphinx Investments & Finance Limited (Sphinx Investments And Finance Limited)
Published as H.K.G. Finance and Investment Company Limited
Published as Rajadhiraj Auto Finance Co. Private Limited
Published as City Motor Fin-Invest Limited
Published as Umeed Investments Limited
Published as Shane Haryana Finlease Limited
Published as Sree Narayana Traders and Financiers Limited
Published as Nedungad Investments Private Limited
Published as KPR Investments Private Limited
Published as SNT Securities Limited
Published as Ever Trust Finance (India) Limited
Published as Pankaj Investments Ltd.
Published as Patrex Vyapaar Private Limited
Published as Batabari Investments Limited (Previously known as Batabari Tea Company Limited)
Published as Navanirman Investments & Estates Limited
Published as Sinclaire Holdings & Investments Limited
Published as Hariyali Travellers Private Limited
Published as Barsana Motor Finance Private Limited
Published as VGP Finances Limited
Published as Trans Asia Auto and General Finance Limited
Published as Parv Financiers Limited
Published as Galilee Investments and Credit Limited
Published as Nithya Hire Purchase and Leasing Private Limited
Published as Carbo Industrial Holdings Ltd.
Published as Kukoo Motor Finance Private Limited (Presently known as Montu Motor Finance Private Limited)
Published as Hindon Motor Finance Private Limited
Published as Vasu Senniappa Finance Limited