RBI cancels Certificate of Registration of 4 NBFCs

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Published on April 18, 2017

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RBI cancels Certificate of Registration of 4 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four 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.	Company's Name	Address of Registered Office	Certificate of Registration No.	Issued On	Date of cancellation
1	M/s Mumbai Discount Finance Private Limited	202, Nadiadwala Market, Poddar Road, Malad (East), Mumbai – 400097	B-13.01391	September 22, 2000	April 20, 2015
2	M/s Sanjay Villa Pvt. Ltd. (Presently M/s BISWA Microfinance Pvt. Ltd.)	Danapali, PO – Budharaja Sambalpur – 768004 (Odisha)	05.02843	August 25, 1998	November 16, 2016
3	M/s Multani Motor Finance Limited	1109, Indraprakash Building, 11th Floor, 21, Barakhamba Road, Connaught Place, New Delhi – 110001	A-14.02610	November 13, 2002	February 14, 2017
4	M/s Jain Sons Marketing and Investment Limited	933, Crosscut Road, Gandhipuram, Coimbatore – 641012	B.07.00703	March 30, 2002	March 24, 2017

As such, these companies cannot transact the business of Non-Banking Financial Institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Shweta Mohile
Assistant Manager

Press Release : 2016-2017/2817