Action on Chefair Impex
Case Brief
The Reserve Bank of India, acting under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 54 companies. The release lists each affected company and its registered office, and notes that they shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934. This is a license-cancellation action against the listed NBFCs.
In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration (CoR) of 54 companies listed in the release. The order states that, as a result, these companies shall not 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 a Certificate of Registration is a license cancellation, which is a severity 5 action regardless of any separate business prohibition language.
All 54 listed companies lose their ability to operate as NBFCs and must stop NBFC business activities. Customers and counterparties dealing with them for financial intermediation services are affected immediately from the cancellation order dates stated against each company.
Published as Chefair Impex Ltd
Published as Zafonic Finlease & Investments Private Limited
Published as Tulip Investments Private Limited
Published as Unickon Fincap Pvt. Ltd.
Published as Dear Investments Pvt Ltd
Published as Harsha Capital Services Limited
Published as K.R. Finvest Limited
Published as Libra Finance Limited
Published as Kiran Resources Private Limited
Published as Neesan Investment and Finance Limited
Published as Portend Services Private Limited
Published as Prichsit Investments Private Limited
Published as RMB Financial Services Limited
Published as Sallak Consultants Private Limited
Published as Sethi Finlease Private Limited
Published as S L R Finlease Limited
Published as VIP Growth Fund Private Limited
Published as SFS Infinite Limited
Published as Redkite Capital Private Limited
Published as Vishesh Securities Private Limited
Published as Sincerely Finance & Investment Private Limited
Published as Vineet Infin Private Limited
Published as Vardhman Financial Services Private Limited
Published as V S Growth Fund Private Limited
Published as Pinkku Chits Private Ltd
Published as Hemani Finlease and Hire Purchase Private Limited
Published as Tushar Leasing & Investment Private Limited
Published as Umeed Leasing & Finance Limited
Published as Kasal India Private Limited
Published as Confluence Leasing and Credit Limited
Published as Dreamteam Investt.and Leasing Pvt Ltd
Published as Basist Leasing Finance Company Limited
Published as Hind Leasing and Finance Limited
Published as Karsewa Investments Limited
Published as Modex Investments Private Limited
Published as Gurudev Financial Services Private Limited
Published as Kirti Capital Services Private Limited
Published as Pratham Projects and Finlease Limited
Published as R J Shareholdings Private Limited
Published as S K M Export Industries Private Limited
Published as Savariya Investments Private Limited
Published as S L R Finance and Investments Limited
Published as Trideep Leasing and Finance Limited
Published as Zenith Finance Pvt Ltd.
Published as Sulaxmi Finance Private Limited
Published as Pointblack Tracon Pvt. Ltd.
Published as Rajat Fincap Private Limited
Published as R N Finance Limited
Published as Supra Financial Services Limited
Published as Rishabh Holdings Private Limited
Published as Satkar Finlease Limited
Published as Sparkling (India) Finshares Limited
Published as Sakar Portfolio Private Limited
Published as Scud Finlease Limited