RBI cancels Certificate of Registration of 32 NBFCs

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 named entities are NBFCs/finance companies across Delhi, Uttar Pradesh, and Gujarat, and the release lists their registered office addresses and CoR dates of cancellation. RBI further stated 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.