The Reserve Bank of India has cancelled the certificate of registration of five non-banking financial companies (NBFCs) for carrying on the business of non-banking financial institution. Following cancellation of registration certificate, the companies cannot transact the business of non-banking financial institution. The five companies are:

Sr. No.	Company's Name	Address of Registered Office	Date of cancellation
1.	SKLS Finance Pvt. Ltd.	4/905, GNT Road, Padianallur, Redhills, Chennai-600052	March 28, 2014
2.	B.K.T.Finance Ltd.	109, Audiappa Naicken Street, Rainbow Plaza, 3rd Floor, Chennai-600079	April 3, 2014
3.	K.K.P. Credits Pvt. Ltd.	88, Salem Road, Namakkal-637001	April 9, 2014
4.	M.C.T. Finance Pvt. Ltd.	202, Anna Salai, Chennai-600002	April 9, 2014
5.	Thanjavur Investment Ltd.	20, Robinson Park Colony, Washermenpet, Chennai-600021	April 9, 2014

The Reserve Bank can cancel the registration certificate of a non-banking financial company under the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934,. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

S. K. Gaonkar

Assistant Manager

NBFC registration cancellation restricts firms from conducting NBFC business under statutory power conferred by law. Cancellation of registration certificates of five non-banking financial companies prevents those entities from carrying on the business of a non-banking financial institution; after cancellation the listed companies are prohibited from transacting NBFC business and must cease operations within that regulated activity. The regulator's statutory cancellation authority and the statutory definition of NBFC business are cited as the legal basis for the withdrawals.