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Date: 20/06/2018
RBI cancels Certificate of Registration of 5 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following five 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 Cygnus Publishers Limited 21A, Shakespeare Sarani, Kolkata-700017 B.05.05850 September 12, 2011 March 28, 2018
2. M/s Nortel Tracom Private Limited 371, Adinath Saha Road, Kolkata-700 048 B.05.06323 April 26, 2004 April 04, 2018
3. M/s Rakshit Motor and General Finance Limited D-5, Office No. 11, 3rd Floor, Laxmi Nagar, Delhi-110 092 A-14.02190 May 24, 2011 April 23, 2018
4. M/s Deep Motor Finance Limited 1st Floor, SCO-61, Near Hotel Umed, Opp PIMS Hospital, Cystal Plaza, Chotti Baradari Part-2, Jalandhar-144 001, Punjab A-06.00217 June 18, 2007 June 01, 2018
5. M/s Mansarovar Deposit and Advances Private Limited Ambala By Pass Road, Near Speedways Tyres, Transport Nagar, Ludhiana, Punjab B.06.00512 August 25, 2001 June 01, 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 : 2017-2018/3322

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