Case Brief
The RBI cancelled the Certificate of Registration of four NBFCs: M/s Vrundavan Securities Limited, M/s Durlav Finance Limited, VGM Finance Private Limited (now known as M/s Sufalam Financial Services Private Limited), and M/s Dhananjay Finance Limited. The action was taken under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, the companies are not allowed to transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Vadodara, Gujarat
- Order Date