RBI cancelled certificate of registration of five NBFCs

Following the cancellation of registration certificate, these companies will not be able to 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.

Created On: Sep 10, 2016 09:00 ISTModified On: Sep 10, 2016 16:37 IST

The Reserve Bank of India (RBI) on 8 September 2016 cancelled the certificate of registration of five non-banking financial companies (NBFCs).

Now, these companies will not be able to 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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The NBFCs whose certificate of registration were cancelled includes

• M/s Simco Consultants Private Limited

• M/s Lunkad Securities Ltd

• M/s Rajvir Marketing and Investment Private Limited

• M/s Crystal Investments Limited   

• M/s Shri Jaya Investments Agency Limited (formerly known as Arcot Finance & Agency Limited)   

The certificates were cancelled in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.

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