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Date: 15/05/2018
7 NBFCs surrender their Certificate of Registration to RBI

The following NBFCs have surrendered the Certificate of Registration granted to them by the Reserve Bank of India. The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their Certificate of Registration.

Sr. No. Name of the Company Office Address CoR No. Issued On Cancellation Order Date
1. M/s Subhlabh Traders Pvt. Ltd. 211, Megacity Chambers, 1, India Exchange Place, Kolkata, West Bengal-700 001 05.00654 March 05, 1998 March 22, 2018
2. M/s Sawhney Financiers Jammu Limited
(Previously known as M/s Sawhney Financiers Jammu Pvt. Ltd.)
Mani Ram Market, Kanak Mandi, Jammu-180 001 11.00025 November 22, 2011 April 05, 2018
3. M/s Daksum Finance Limited
(Previously known as M/s Daksum Finance Private Limited)
Mani Ram Market, Kanak Mandi, Jammu- 180001 11.00035 March 24, 2008 April 09, 2018
4. M/s U.P. Electronics Corporation Limited 10, Ashok Marg, Lucknow-226 001, Uttar Pradesh B.12.00429 December 27, 2002 April 11, 2018
5. M/s Snam Investments Private Limited 207, Kusal Bazar, 32-33, Nehru Place, New Delhi- 110019 B-14.01925 September 07, 2000 April 13, 2018
6. M/s Torrent Private Limited Torrent House, Off Ashram Road, Ahmedabad-380009 B.01.00542 April 22, 2015 April 16, 2018
7. M/s Brandon & Company Pvt. Ltd. 96, Bajaj Bhawan, 9th Floor, 226, Nariman Point, Mumbai- 400 021 13.00119 February 26, 1998 April 24, 2018

As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/2997

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