Action on Satya Prakash Capital Investment
Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of 35 non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The release lists the companies and their cancellation order dates, and makes clear that they shall not transact the business of a non-banking financial institution as defined under the RBI Act.
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 35 named non-banking financial companies. The order states that these 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 licensing action and is severity 5 regardless of any fine.
All 35 entities lose their NBFC registration and must stop carrying on non-banking financial institution business. This affects the companies directly and prevents them from undertaking regulated NBFC activities from the relevant cancellation dates.
Published as A G Securities Private Limited
Published as ATM Credit & Investments Pvt.Ltd.
Published as Decisive Finance Private Limited
Published as Liberty Sales Pvt. Ltd
Published as Quasar India Fincap Private Limited
Published as Sunrise Manufacturing Co Ltd
Published as Triveni Vinimay Private Limited
Published as Unitron Finlease Limited
Published as Vini Financial and Management Consultants Private Limited
Published as Adhinath Investments Private Limited
Published as Ahusons Finance and Investments Private Ltd
Published as Associated Leasing Limited
Published as B H L Forex and Finlease Limited
Published as Dada Dev Finance & Leasing Pvt. Ltd.
Published as Economic Capital Services India Private Limited
Published as FMI Investments Private Limited
Published as Goodworth Securities Private Limited
Published as Satya Prakash Capital Investment Limited
Published as ALB Leasing & Finance Ltd.
Published as Corporate Capital Services India Private Limited
Published as Divine Investments Private Limited
Published as Pearls Hire Purchase Corporation Limited
Published as Sunlife Securities Private Limited
Published as Swito Finance & Estates Private Limited
Published as Twenty First Century Marketing Ltd
Published as Veera Securities and Finlease Private Limited
Published as Shivom Investment & Consultancy Limited
Published as Agroha Savings Limited
Published as Altar Investment Pvt Ltd
Published as Atlantic Leasing Limited
Published as Bharatpuria Finance and Investment Limited
Published as East Delhi Leasing Private Limited
Published as ESN Finance and Capital Services Limited
Published as Ganpati Fincap Services Private Limited
Published as Gopal Overseas Private Limited