RBI cancelled Certificate of Registration of 22 NBFCs

The Reserve Bank of India (RBI) on 29 March 2016 cancelled the certificate of registration of the 22 Non-Banking Financial Companies (NBFCs).

RBI cancelled their certificates of registration by exercising the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

The NBFCs whose certificate of registration were cancelled include

• Kundan Leasing and Finvest Private Limited

• Amazan Capital Limited

• Vuma Maheswara Finvest Limited

• Nawalsons Holdings Private Limited

• Raseera Investments Private Limited

• Surin Investments Private Limited

• M3 Investment Managers Private Limited

• Mascot Commerce Pvt. Ltd.

• Integrity Trading Company Private Limited

• Limtex Impex Private Limited

• Shyamashree Foods Pvt. Ltd.

• Vrindavan Services Private Ltd.

• Nirankar Investments Private Limited

• Dignity Motors Finance Limited

• Credence Securities Private Limited

• International Steel Industries Limited (Formerly Chitalia Infotech (I) Ltd.)

• Trepechy Textile Limited (Formerly Trepechy Finance Limited)

• Akansha Consultancy Services Limited

• Sierra Investments Limited

• Priyam Commercial Enterprises Private Limited

• Bini Commercial Enterprises Private Limited

• RR Securities Limited

Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

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