The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial company (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934 on supervisory grounds.

Following cancellation of registration certificate, the company cannot transact the business of non-banking financial institution. It has also been prohibited from accepting any deposits with immediate effect from any person in any form whether by way of renewal or otherwise until further orders and also from alienation of its assets without prior written permission of the Bank.

Sangeeta Das
Director

Press Release: 2014-2015/791