RBI cancels Certificate of Registration of 2 NBFCs

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Published on June 28, 2016

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RBI cancels Certificate of Registration of 2 NBFCs

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

Sr. No.	Name of the Company	Office Address	CoR No.	Issued On	Cancellation Order Date
1.	M/s Sampada Chemicals Limited	Parijat House, 2nd Floor, 1076, Dr. E Moses Road, Worli, Mumbai - 400018	13.00362	March 18, 1998	March 25, 2016
2.	M/s Saakshi Securities Limited	209, 2nd Floor, Shri Balaji Heights, Bodyline Cross Road, C.G. Road, Ahmedabad – 380019	01.00217	April 20, 1998	May 25, 2016

As such, the above 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.

Ajit Prasad
Assistant Adviser

Press Release: 2015-2016/3021