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The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial company (NBFCs). Following cancellation of registration certificate, the company cannot transact the business of non-banking financial institution.
Sr. | Company's Name | Address of Registered Office | Certificate of Registration | Date of |
1. | GE Strategic Investments India (GESII) | Unit No.401 & 402, 4th Floor, Aggarwal Millenium Tower, E-1,2,3, Netaji Subhash Place, Pitampura, New Delhi-110034 | 14.02438 | April 30, 2014 |
2. | Profound Exports Private Limited | 1/18B, Asaf Ali Road, New Delhi-110002 | 14.00263 | May 28, 2014 |
3. | Two Brothers Holding Limited | A-8, 4G BigJo's Tower, Netaji Subhash Place, Wazirpur District Centre, New Delhi-110034 | 14.00335 | June 16, 2014 |
4. | Swank Services Private Limited | 4-Scindia House, New Delhi-110001 | 05.02793 | June 13, 2014 |
5. | Praxis Consulting and Information Services Private Limited | C-101, Rishi Apartments, Alaknanda, New Delhi-110019 | 14.00059 | May 22, 2014 |
6. | Credible Microfinance Ltd. (formerly known as "Credible Securities & Finance Pvt. Ltd.") | A-1, Ground Floor, 324, Masjid Moth, South Extension Part-II, New Delhi-110049 | B-14.00273 | June 2, 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.
Cancellation of NBFC registration prevents affected companies from transacting non banking financial business under regulatory powers. Cancellation of registration certificates for six non-banking financial companies removes their authority to carry on the business of a non-banking financial institution; each listed company is prohibited from transacting NBFC activities under the statutory power to revoke registration, with the operative definition of the business of a non-banking financial institution determining the scope of the prohibition. of Press 'Enter' after typing page number.
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