Reserve Bank Cancels Registration Certificates of 4 NBFCs

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Reserve Bank Cancels Registration Certificates of 4 NBFCs




The Reserve Bank of India has cancelled the certificate of registration of four non-banking financial companies. No details were given by the central bank for the cancellation of certificates of these firms.

"The Reserve Bank has cancelled the certificate of registration of four non-banking financial companies (NBFCs) in exercise of the powers under the Reserve Bank of India Act, 1934," it said in a notification on Monday.

NBFCs Goyal Commercial Pvt Ltd and First Debt Management Co of India Ltd belong to Kolkata while Nostalgia Finvest Private Limited and Narad Realtors Private Limited belong to Mumbai.

The registration certificates of these NBFCs were cancelled in November and December of 2015.

"Following the cancellation of registration certificate, the above companies cannot transact the business of a non-banking financial institution," the RBI added.




The Reserve Bank of India has cancelled the certificate of registration of four non-banking financial companies. No details were given by the central bank for the cancellation of certificates of these firms.

"The Reserve Bank has cancelled the certificate of registration of four non-banking financial companies (NBFCs) in exercise of the powers under the Reserve Bank of India Act, 1934," it said in a notification on Monday.

NBFCs Goyal Commercial Pvt Ltd and First Debt Management Co of India Ltd belong to Kolkata while Nostalgia Finvest Private Limited and Narad Realtors Private Limited belong to Mumbai.

The registration certificates of these NBFCs were cancelled in November and December of 2015.

"Following the cancellation of registration certificate, the above companies cannot transact the business of a non-banking financial institution," the RBI added.



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