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Date: 26/10/2016
RBI cancels Certificate of Registration of 3 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following three 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 Barkha Financiers Limited 105, First Floor, Opposite Police Station, T.P. Nagar, Baghpat Road, Meerut – 250002 (Uttar Pradesh) A-12.00363 June 12, 2008 August 16, 2016
2. M/s Barkha Instalments Limited Bhagawan Mahavir Marg, Railway Road, Baraut – 250611 (Uttar Pradesh) A-12.00369 July 08, 2008 September 01, 2016
3. M/s Prachi Chemical and Industries Limited Halwasiya Mansion, 6/2, Moira Street, Kolkata – 700017 B-05.06550 June 09, 2005 September 20, 2016

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-IA of the Reserve Bank of India Act, 1934.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/1038
 
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