The Eight Non-Banking Financial Companies (NBFCs) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR:
M/s Dholadhar Investments Private Limited
M/s Goodwill Financial Services Private Limited
M/s Morgan Stanley India Securities Private Limited
M/s Sankalp Granites Private Limited
M/s Yardley Investment and Trading Company Private Limited
M/s Sri Shirdi Credit and Finance Private Limited
M/s Mangalam Softwares Private Limited
M/s West Bengal Industrial Development Corpn. Limited
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 Reserve Bank of India Act, 1934.
Further, the following one Housing Finance Company has also surrendered the CoR granted by National Housing Bank (NHB). The RBI, in exercise of powers conferred on it under Section 29A (6) of the National Housing Bank Act, 1987, has therefore cancelled the CoR:
M/s Indie Homefin Private Limited
As such, the above company shall neither transact the business of a Housing Finance Institution nor of a Non-Banking Financial Institution as defined in National Housing Bank Act, 1987 and Reserve Bank of India Act, 1934, respectively.