RBI cancels Certificate of Registration of 2 NBFCs

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Published on September 23, 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 S.P. Global Finance and Investment Private Limited (Formerly Latur Finance and Investment Private Limited)	Shop No. 15, City Arcade, Opp. Prakash Traders, Jai Road, Nashik Road, Nashik – 422001	B-13.01665	May 21, 2003	August 05, 2016
2.	M/s Skylark Deposit and Advances Limited	H.No. 1017/1, Field Ganj, Corner House, B-14, Street No. 13, Ludhiana - 141008	06.00182	July 30, 2007	August 12, 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-IA of the Reserve Bank of India Act, 1934.

Ajit Prasad
Assistant Adviser

Press Release: 2016-2017/758