RBI cancels Certificate of Registration of 2 NBFCs

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Published on November 30, 2017

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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 two 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	Registered Office Address	CoR No.	Issued On	Cancellation Order Date
1	M/s GFL Financials India Limited	10/2, Ramganj, Jinsi, Indore – 452002	B.03.00159	August 24, 2002	October 18, 2017
2	M/s Alagendran Finance Limited (Presently M/s Sai Jeevadhara Finance Limited)	No. 43-E, II Floor, New Avadi Road, Kilpauk, Chennai – 600010	B-07.00254	May 02, 2005	October 18, 2017

Following the cancellation of registration certificate, these 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: 2017-2018/1497