Case Brief
In exercise of powers under Section 45-IA(6) of the RBI Act, 1934, the Reserve Bank of India cancelled the Certificate of Registration of 12 companies. The order covers a mix of NBFCs, including Garnet Finance Limited, Shrikunj Financial Services Private Limited, Allied Commodities Private Limited, Venlon Securities Private Limited, Priyadarshini Consultancy & Services Private Limited, Prince Global Financial Services Limited, Prince Motor Finance Company Limited, Dipankar Properties & Investments Private Limited, Goldrich Agro Limited (presently known as Longtail Capital Limited), Unnati Mercantile Ltd., Mercury Investments Limited, and Carefree Investment Company Limited. Following cancellation, these entities are no longer permitted to transact the business of a Non-Banking Financial Institution.