Action on MSR Securities Private Limited
Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of 27 companies under Section 45-IA(6) of the RBI Act, 1934. The release names each entity and provides the cancellation dates. Following cancellation, these companies are barred from transacting NBFC business as defined under the RBI Act.
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the Certificate of Registration of 27 companies. The release lists each company and the respective date of cancellation. As a consequence, the 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 Certificates of Registration is a full licensing action with immediate operational prohibition, which falls in severity 5.
All 27 named companies are prohibited from carrying on NBFC business going forward. Customers and counterparties should treat the registration status as cancelled, and the entities cannot undertake non-banking financial institution activities after the stated cancellation dates.
Published as Kamni Investment Limited
Published as MSR Securities Private Limited
Published as Lucky Capital Private Limited
Published as Naraini Gems and Investments Limited
Published as Automatic Financial Services (P) Ltd.
Published as Vijay Fininvest Limited
Published as Laxman Investments Limited
Published as LYCA Finance Limited
Published as Brij Krin Investment Pvt. Ltd.
Published as Ganesh Narayan Brijlal Private Limited
Published as Gulmohar Investments & Holdings Ltd.
Published as Karuna Securities Limited
Published as Richie Rich Overseas Private Limited
Published as Blue Horse Finance Private Limited
Published as Adam Finman Ltd.
Published as Pal Finleasevest (India) Ltd.
Published as Kwality Financial Services (P) Ltd.
Published as Pan Pacific Finance Private Limited
Published as Bahumulya Finance Limited
Published as Chhikara Investments Limited
Published as Najafgarh Leasing and Finance Private Limited
Published as Mansukh Overseas Private Ltd.
Published as Bansal Business Pvt. Ltd.
Published as Fairdeal Distributors Private Limited
Published as Rishi Fincap Private Limited
Published as Abha Financial Services Private Limited
Published as Elegant Investment Private Limited