Action on Sanket Investments & Marketing
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 24 NBFCs named in the release. The order lists each company and the date on which its CoR was cancelled. Following the cancellation, the entities are prohibited from transacting the business of a Non-Banking Financial Institution under the RBI Act.
The Reserve Bank of India cancelled the Certificate of Registration (CoR) of 24 companies under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release lists each company and its CoR cancellation date. As a consequence, the above companies shall not transact 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 Certificate of Registration is a full licence/registration cancellation, which is a severity 5 action regardless of any other details.
The 24 named NBFCs must stop carrying on non-banking financial institution business. Customers, counterparties, and other stakeholders should treat the firms as no longer authorized to operate as NBFCs, and the cancellation takes effect from the respective cancellation dates stated in the release.
Published as Sanket Investments & Marketing Limited
Published as Siddhanth Securities & Credits Private Limited
Published as Bharosemand Vyapaar (P) Ltd.
Published as Proctor Marketing (P) Ltd.
Published as Canter Leasing & Finance Private Limited
Published as Citigrade Finance Limited
Published as Master Finlease Limited
Published as Advitiya Finance Private Limited
Published as Sanksons Papers Private Limited
Published as Shri Bajrang Finance and Construction Private Limited
Published as Megha Investment Private Limited
Published as Pioneer Securities Private Limited
Published as Baljeet Leasing and Credit P. Ltd.
Published as CCL Securities Private Limited
Published as M.K. Finlease Private Limited
Published as Chobisi Finlease Services Private Ltd.
Published as Mohipuri Finance & Leasing Co. Private Ltd.
Published as Leo Capital Services Limited
Published as Bombay Thread Mills Private Limited
Published as Shrikunj Financial Services Private Limited
Published as North India Carpet Company Private Limited
Published as Unified Holdings Limited
Published as Arjun Properties & Hotels Private Limited
Published as Shakumbri Motor and General Finance Limited