The Reserve Bank of India has cancelled the certificate of registration of the following non-banking financial companies (NBFCs) for carrying on the business of non-banking financial institution. Following cancellation of registration certificate, the company cannot transact the business of non-banking financial institution.
Sr.
No. |
Company's Name |
Address of Registered Office |
Certificate of Registration
No. & Date |
Date of
cancellation |
1. |
Kotasar Limited |
10, Clive Row, 3rd Floor, Kolkata-700 001 |
CoR No 05.01848 dated April 30, 1998 |
June 18, 2014 |
2. |
United Credit & Development Co. Limited |
103, Park Street, Kolkata-700 016 |
CoR No. N.05.06685 dated April 24, 2007 |
June 19, 2014 |
The Reserve Bank can cancel the registration certificate of a non-banking financial company under the powers conferred under Section 45-IA (6) of the Reserve Bank of India Act, 1934. The business of a non-banking financial institution is defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
Ajit Prasad
Assistant General Manager
Press Release : 2014-2015/168
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