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Date: 26/07/2016
RBI cancels Certificate of Registration of 5 NBFCs

The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following 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. Name of the Company Office Address CoR No. Issued On Cancellation Order Date
1. M/s Jahangirabad Finance Company Private Limited 301, Dhaka Chamber, 39, Naiwala, Karol Bagh, New Delhi – 110005 B-14.03066 April 25, 2005 May 16, 2016
2. M/s A H P Motor Finance Private Limited C-205/A, Vallabh Nagar, Ring Road – 1, Raipur – 492001 B-06.00366 December 15, 2000 June 06, 2016
3. M/s Onam Trading & Investment Private Limited 15, Varsha, Napean Sea Road, Mumbai – 400006 B-13.01695 January 01, 2004 June 06, 2016
4. M/s Arogya Dhan Varsha Finance & Investment Pvt Ltd 90, Naval Bhavan, Tagore Nagar, Hiran Magri, Sector 4, Udaipur, Rajasthan – 313002 B-10.00117 September 05, 2011 June 14, 2016
5. M/s Protchem Finance Limited AB 5, Second Avenue, SDV Arcade, Anna Nagar, Chennai – 600040 07.00162 March 11, 1998 July 01, 2016

As such, 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.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/223

 
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