Action on SFSL Investments
Case Brief
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 28 companies. The release lists the affected entities and their registered office addresses and dates of cancellation. Following cancellation, the companies are not permitted to transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act.
The Reserve Bank of India cancelled the Certificate of Registration (CoR) of 28 listed companies under Section 45-IA(6) of the RBI Act, 1934. As a result, these entities can no longer transact business as a Non-Banking Financial Institution as defined under Section 45-I(a) of the Act.
Severity Assessment
Cancellation of Certificate of Registration is a license cancellation, which is severity 5 regardless of any monetary amount.
All 28 companies lose their RBI registration and must stop carrying on NBFC business. Customers and counterparties can no longer treat them as registered non-banking financial institutions, and any future NBFC activity would be unauthorized.
Published as Ferguson Traders Private Limited
Published as Jyoti (India) Ltd. (Presently Known as Jyoti Business Ltd.)
Published as SFSL Investments Limited
Published as Kutumb Vyapaar Private Limited
Published as Sree Harischandra Prasad Investment & Finance Company Limited
Published as N.N. Financial Services Private Limited
Published as Sumangla Investment Co. Ltd.
Published as Marwar Portfolio Private Ltd.
Published as NSR Consultancy Services Private Limited
Published as Shivalik Finlease Limited
Published as K.C.M. Financial Services Limited
Published as Sree Thimmaraja Investment and Finance Company Private Ltd.
Published as Timely Fincap Private Limited
Published as Techno Builders Private Limited
Published as Valencia Credits Private Limited
Published as Sakshi Financial Services Private Limited
Published as Betala Finance & Leasing Private Limited
Published as Angel’s Consultants Private Limited
Published as Ajanta Goods & Services Private Limited
Published as Tripurari Finvest Ltd.
Published as Adwel Finvest Private Limited
Published as Reliable Chit Fund Company Private Limited
Published as S N M Finlease Private Limited
Published as Sterling International Finance Limited
Published as Target Finlease Limited
Published as Rushmore Leasing and Finance Private Limited
Published as Bhikshu Investments Limited
Published as Ramsay Finance & Leasing Company Ltd. (Presently known as Ramsay International Ltd.)