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Date: 21/05/2018
RBI cancels Certificate of Registration of 2 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following two 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 Growell Auto Leasing Private Limited Inside Gali PNB, G.T. Road, Batala, Gurdaspur-143505, Punjab B-06.00364 December 08, 2000 May 02, 2018
2. M/s Adirudh Capital and Investment Private Limited
(Previously known as Desika Vinayagar Credit and Investment Private Limited)
19/1, Sreyas, 7th Street, Tatabad, Coimbatore-641012, Tamil Nadu B-07.00223 December 11, 2012 May 02, 2018

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.

Ajit Prasad
Assistant Adviser

Press Release : 2017-2018/3053

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