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Date: 23/11/2016
RBI cancels Certificate of Registration of 6 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following non-banking financial companies (NBFCs). The Reserve Bank, 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 Star Line Leasings Limited 417-419, ‘Midas’, Sahar Plaza, Mathurdas Vasanji Road, Andheri (East), Mumbai - 400059 13.00533 March 24, 1998 October 05, 2016
2 M/s Target Credit and Capital Private Limited UG-1, B C Johri Palace, 51, M G Road, In front of Globus, Indore - 452001 B-03.00006 February 18, 1998 October 06, 2016
3 M/s Vishwakarma Strips and Investments Private Limited Opposite Link Road, Service Station, Link Road, Ludhiana, Punjab B-06.00034 March 05, 1998 October 10, 2016
4 M/s Purohit Finlease Limited 360, Mint Street, 2nd Floor, Sowcarpet, Chennai - 600079 B-07.00593 March 15, 2001 October 10, 2016
5 M/s Royal Moga Hire Purchase Private Limited G T Road, Moga – 142001 (Punjab) 06.00139 August 10, 1998 October 10, 2016
6 M/s Oak Finalease Limited (Formerly Eness Finalease Private Limited) 168, Jaora Compound, Rathi Mansion, Indore - 452001 B-03.00115 September 25, 2000 October 14, 2016

As such, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Anirudha D. Jadhav
Assistant Manager

Press Release : 2016-2017/1296

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