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RBI terminates registration certificate of two NBFCs

RBI Bank

New Delhi, Aug. 6 : The Reserve Bank of India (RBI) have cancelled the certificate of registration of 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.

One of the two companies is Hanumangarh Finvest Private Limited located at 8, New Grain Market, at Rajasthan’s Hanumangarh district with registration number -335 512 B-10.00003, registered on July 1, 2008.

The second company is Shubham Fiscal Services Private Limited located at C-55, Shastri Nagar in Rajasthan’s Jodhpur with registration number 342 003 B-10.00129, which was registered on August 31, 2000.

Following the cancellation of registration certificate, the above companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934. (ANI)