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Date: 18/04/2017
RBI cancels Certificate of Registration of 4 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following four 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. Company's Name Address of Registered Office Certificate of Registration No. Issued On Date of cancellation
1 M/s Mumbai Discount Finance Private Limited 202, Nadiadwala Market, Poddar Road, Malad (East), Mumbai – 400097 B-13.01391 September 22, 2000 April 20, 2015
2 M/s Sanjay Villa Pvt. Ltd. (Presently M/s BISWA Microfinance Pvt. Ltd.) Danapali, PO – Budharaja Sambalpur – 768004 (Odisha) 05.02843 August 25, 1998 November 16, 2016
3 M/s Multani Motor Finance Limited 1109, Indraprakash Building, 11th Floor, 21, Barakhamba Road, Connaught Place, New Delhi – 110001 A-14.02610 November 13, 2002 February 14, 2017
4 M/s Jain Sons Marketing and Investment Limited 933, Crosscut Road, Gandhipuram, Coimbatore – 641012 B.07.00703 March 30, 2002 March 24, 2017

As such, these companies cannot transact the business of Non-Banking Financial Institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Shweta Mohile
Assistant Manager

Press Release : 2016-2017/2817

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