Action on Unclassified entity
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of 32 companies under Section 45-IA(6) of the RBI Act, 1934. The entities listed are no longer permitted to transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the Act. The affected companies include a mix of private limited companies and listed entities, with registered offices mainly in Kolkata, West Bengal, and one in Jorhat, Assam.
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 32 listed 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 Certificate of Registration is a severity 5 action because it removes the entities' authorization to operate as NBFCs.
All 32 named companies lose their NBFC registration and must stop conducting non-banking financial institution business. This affects their ability to carry on regulated lending/financial activities as NBFCs and requires immediate compliance with the cancellation order; customers and counterparties should treat them as no longer authorized NBFCs.
Published as J.G. Industries Limited
Published as Contact Suppliers Private Limited
Published as G.K. Trading Private Limited
Published as K.T. Resources Private Limited
Published as Chinki Investment Private Limited
Published as Manphool Exports Ltd.
Published as Limelight Holdings Pvt. Ltd.
Published as Axlom Distributors Private Limited
Published as Lewis Exim Pvt. Ltd.
Published as Moonshine Vanijya Pvt. Ltd.
Published as BMR Securities Private Limited
Published as Navam Capital Private Limited
Published as Saket Traders Private Limited
Published as Swadeshi Projects Limited
Published as Milestone Commercial Private Limited
Published as Gulmohar Enterprises Private Limited
Published as Charms Commercial Private Limited
Published as Silky Builders & Fincon Pvt. Ltd.
Published as Milan Properties Private Limited
Published as Suryajyoti Vanijya And Viniyog Private Limited
Published as Maurya Trading Company Ltd.
Published as Alok Stocks & Securities (P) Ltd.
Published as Bahar Distributors Private Limited
Published as Ativir Fincon Private Limited
Published as Nivedan Vanijya Niyojan Limited
Published as Angles Trades Private Limited
Published as Cosmopolitan Forgings Private Limited
Published as Lectrodryer Traders Private Limited
Published as Welford Distributors Private Limited
Published as Shree Sidhi Binayak Holdings Private Limited
Published as Neha Advisory Services Private Limited
Published as Cosmos Business Pvt. Ltd.