Action on Ansun Investments
Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of 23 NBFCs under Section 45-IA(6) of the RBI Act, 1934. The named companies include entities based in New Delhi, Kolkata, Chennai, Faridabad and Ahmedabad. Following cancellation, they are prohibited from carrying on the business of a Non-Banking Financial Institution as defined in the RBI Act.
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of 23 named companies. As a result, these entities are no longer permitted to 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 Certificates of Registration is a licence cancellation, which is a severity-5 action regardless of whether any monetary penalty is involved.
All 23 affected companies must stop NBFC activities and cannot legally transact non-banking financial business. Counterparties and customers dealing with these firms are impacted because the firms lose their regulatory permission to operate as NBFCs. The order is effective from the stated cancellation dates for each company.
Published as Intimate Finance & Investment Private Limited
Published as Amass Proctor Finance & Leasing Private Limited
Published as Queen Consultancy Services Private Limited
Published as Supraneet Finance and Consultants Limited
Published as Sahayta Finance & Leasing Private Limited
Published as S.A. Growth Fund Private Limited
Published as Sybron Leasing & Finance Private Ltd.
Published as Kushal Finvest Private Limited
Published as Gap Trading & Investments Private Limited
Published as Future Vision Securities Ltd.
Published as Gujrot Leasing & Finance Private Limited
Published as Ansun Investments Limited
Published as Deluxe Vyapaar Private Limited
Published as Shakuntalam Investment and Leasing Limited
Published as Suraj Impex Pvt. Ltd.
Published as Sterling Finlease Limited
Published as SAR Leasing Private Ltd.
Published as Labony Vinimoy Private Limited
Published as SSB Stock & Shares Private Limited
Published as Vatsalya Holdings Private Limited
Published as Guru Amar Dass Hire Purchase Private Limited
Published as Dr. Mohinder Nath Holdings Private Limited
Published as Prudent Fintrade Private Limited