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Date: 23/09/2016
RBI cancels Certificate of Registration of 2 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following 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 Office Address CoR No. Issued On Cancellation Order Date
1. M/s S.P. Global Finance and Investment Private Limited (Formerly Latur Finance and Investment Private Limited) Shop No. 15, City Arcade, Opp. Prakash Traders, Jai Road, Nashik Road, Nashik – 422001 B-13.01665 May 21, 2003 August 05, 2016
2. M/s Skylark Deposit and Advances Limited H.No. 1017/1, Field Ganj, Corner House, B-14, Street No. 13, Ludhiana - 141008 06.00182 July 30, 2007 August 12, 2016

As such, the above 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: 2016-2017/758
 
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