RBI cancelled Certificate of Registration of 28 NBFCs

RBI of India has dropped the Certificate of Registration of twenty eight non-keeping money monetary partnerships (NBFCs) in exercise of forces gave on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. “The organizations incorporate, Steel City Automotives Products Private Limited, Hindustan Products Limited, Navin Motors Limited, Fortune Enterprises Private Limited and twenty four others,” the national bank informed. Accordingly, the above organizations will not execute the matter of a Non-Banking Financial Institution, as characterized in statement (an) of Section 45-I of the RBI Act, 1934, it included.

A larger part of the licenses have a place with NBFCs, which had neglected to meet RBI’s prerequisite of net capital of ₹ 2 crore. Truth be told, some NBFCs had surrendered their endorsements of enrollment.

As per the alteration in the RBI Act of 1997, the national bank had commanded the base capital prerequisite for NBFCs at ₹ 25 lakh. The necessity was expanded to ₹ 2 crore for new NBFCs. In any case, the old ones were permitted to proceed with the prior capital prerequisite until RBI issued a modified administrative system in 2014. Under this, it had set a due date for all NBFCs to achieve the base net capital of ₹2 crore before 31 March 2017.

“There are as yet countless that have not possessed the capacity to achieve that dimension, and RBI is dropping their enlistments.”The vast majority of these NBFCs with a net claimed store of not exactly ₹ 2 crore are not financially practical.” It is nothing but a terrible plan to audit the NBFC segment. There are very numerous NBFCs as of now. There’s a need a strict oversight. RBI is vigilant about the prospering quantities of NBFCs.”

Conclusion:-

NBFC ceases to carry on the matter of a non-keeping money budgetary establishment in India. Coming up short of NBFC to consent to the enrollment conditions indicated under the Act and an extra RBI determined conditions at the season of issue of authentication of enlistment. For instance, neglecting to keep up the base paid-up capital prerequisite i.e. going beneath the limit of INR 2 crore. NBFC neglects to satisfy the previously mentioned determined conditions in regard of undertakings and capital of the Company. This has forced RBI to cancel the license of non regulatory NBFC’s 

Sl. No. Name of the Company Registered Office address of the Company CoR No Date of issue of CoR Date of Cancellation of CoR
1. P S C Holding Private Limited Plot No. RZ-D-27, Nihal Vihar, Nangloi, Delhi-110 041 B-14.01722 May 15, 2000 September 17, 2018
2. G.R. Medi Products Ltd. 15, Noormal Lohia Lane, Kolkata-700 007, West Bengal 05.02835 August 24, 1998 October 19, 2018
3. Goyal Intra Private Limited 196A, Maharshi Debendra Road, 1st Floor, Flat-B, Kolkata-700 006, West Bengal B-05.05588 September 24, 2003 October 15, 2018
4. Dalhousie Investment Trust Co. Ltd. 3A, Shakespeare Sarani, Kolkata-700 071, West Bengal 05.02878 September 05, 1998 October 15, 2018
5. Navin Udyog Promotions Ltd. 184, Rajarhat Road, Loknath Market Complex, Near Loknath Temple, Teghoria, PO.-Hatiara, North 24 Parganas, Kolkata-700 059, West Bengal 05.01411 April 01, 1998 October 19, 2018
6. Neiveli Sales Promotion Pvt. Ltd. 56, Maruti Building, 12 Loudon Street, Kolkata-700 017, West Bengal 05.03142 June 29, 1999 October 15, 2018
7. Blue Stone Readymade Garments Private Limited
(Presently known as Blue Stone Finvest Pvt. Ltd.)
Room No. 662, 6th Floor, Marshall House, 33/1, Netaji Subhas Road, Kolkata 700 001, West Bengal B.05.04345 August 31, 2001 September 28, 2018
8. Richhold Properties Private Limited Grassmore, Cha-Bagan, Section No. CDMT/CDYT Eat & Corner, PS.-Nagrakata, Jalpaiguri-735 225, West Bengal 05.02886 September 05, 1998 August 13, 2018
9. Sarvottam Ghar Nirman Private Limited 3A, Mangoe Lane, 4th Floor, Kolkata-700 001, West Bengal B-05.05974 November 07, 2003 July 20, 2018
10. Exel Capital Services Ltd.
(Previously known as EMM ELL Deposits and Advances Private Limited)
#1639, Near Fort Gate, Manimajra, Chandigarh 06.00085 April 20, 1998 October 22, 2018
11. Arihant Datamatix Private Limited 23/1, Maharshi Devendra Road, 3rd Floor, Room No. C-9, Kolkata-700 007, West Bengal B.05.04428 September 26, 2001 June 18, 2018
12. Sreemaya Holdings Private Limited Flat No. 909, 9th Floor, Kailash Building, 26, Kasturba Gandhi Marg, New Delhi- 110 001 B.05.05912 December 15, 2003 September 03, 2018
13. Penta Finance and Investment Pvt. Ltd. 27, Weston Street, 5th Floor, Kolkata-700 012, West Bengal B-05.06678 March 26, 2007 September 03, 2018
14. Harinder Hire Purchase Limited 1st Floor, G T Road, Near Hotel Kings, Jalandhar-144 001, Punjab A-06.00174 July 30, 2007 October 15, 2018
15. Harinder Leasing Limited 1st Floor, Near Hotel Kings, G.T. Road, Jalandhar-144 001, Punjab 06.00192 July 30, 2007 October 19, 2018
16. Harinder Investments Limited 1st Floor, Near Hotel Kings, G.T.Road, Jalandhar-144 001, Punjab A-06.00113 September 19, 2007 October 19, 2018
17. Aashiyana Sales Private Limited 187, Rabindra Sarani, 3rd Floor, Kolkata-700 007, West Bengal B.05.05279 January 30, 2003 August 13, 2018
18. Chitravali Barter Private Limited Room No. 909, 9th Floor, 33, C R Avenue, Kolkata-700 012, West Bengal B.05.02923 April 08, 2004 August 13, 2018
19. Rachit Holdings Pvt. Ltd. P-245, C.I.T. Road, Scheme-VIM, Kolkata-700 054, West Bengal 05.02052 May 04, 1998 September 17, 2018
20. Welter Securities Ltd. 91, Netaji Subhash Road, Kolkata-700 001, West Bengal 05.02385 May 16, 1998 September 03, 2018
21. Propin Private Limited 119A, M.G. Road, 3rd Floor, Kolkata-700 007, West Bengal B-05.06781 November 19, 2008 August 28, 2018
22. Skylark Motor & General Finance Limited Plot No.32-33, Lal Bahadur Shastri Complex, Moga, Punjab-142 001 06.00185 July 30, 2007 November 12, 2018
23. Jayasree Investments Private Limited 305D, Pancom Business Centre, Ameerpet, Hyderabad-500 016 B-09.00384 January 09, 2002 September 28, 2018
24. S.G.S. Investments Limited 8, A.J.C.Bose Road, Circular Court, 7th Floor, Kolkata-700 017, West Bengal B.05.05059 May 28, 2003 August 13, 2018
25. RCS Financial Technology Limited Chamber No. 4, Second Floor, SCO-124, Feroze Gandhi Market, Ludhiana, Punjab-141 001 B-06.00493 May 18, 2001 November 12, 2018
26. Participation Finance and Holdings (India) Private Limited
(Previously known as Jai Ganges Finance Company Pvt. Ltd.)
First Floor, Shop/Door No. 1, Opp. Apne Sapne NGO, Gupta Store Road, Subhash Nagar, Dehradun-248 002
A-49, Mohan Co-operative Industrial Estate, Mathura Road, New Ddelhi-110 044
B-12.00256 May 21, 2009 November 12, 2018
27. Jiilimil Investment and Trading Co. Pvt. Ltd. 27, Sir Hariram Goenka Street, Kolkata-700 007, West Bengal 05.00143 February 18, 1998 August 28, 2018
28. Eskay Mercantile Commercial & Holding Pvt. Ltd. 3B, Bentinck Street, 1st Floor, Kolkata-700 001, West Bengal 05.01471 April 06, 1998 August 13, 2018