After the cancellation of COR, companies will no longer be allowed to do business as NBFCs. RBI has issued the order. Let’s find out which companies have been slammed by the central bank?
RBI Action: RBI’s action continues in the new year as well. The Reserve Bank of India has simultaneously cancelled the Certificate of Registration i.e. license of 10 non-banking finance companies. The NBFCs included in this list are located in West Bengal. At the same time, 7 companies have themselves surrendered the CoR for different reasons.
RBI has given this information through a press release. The order to cancel the CoR was issued on January 9. According to the statement of the central bank, the companies whose CoR has been cancelled will no longer be allowed to do the business of non-banking financial institution.
The license of these companies was canceled (NBFCs License Cancelled)
- East India Leasing Company Limited
- Kakaraniya Trading Private Limited
- Ekadant Capital Markets Private Limited
- Gold Star Business Private Limited
- Cyber Advisory Services Private Limited
- Jeet Finance Private Limited
- Bavisan Marketing Private Limited
- Expactive Distributors Private Limited
- J.M Textile Private Limited
- Jyoti vikas trade Private Limited
These companies surrendered their licenses
Four Delhi-based companies have surrendered their COR to RBI due to being out of the non-banking financial institution business. These include Striker Finvest Private Limited, Narindra Singh & Sons Private Limited, Montgomery Finance Company Private Limited, Shri Mahalaxmi Investment & Property Co. Private Limited. Tinna Finance Limited, New Delhi has surrendered its COR due to fulfilling the criteria set for an unregistered core investment company. Apart from this, Ramcom Sales Private Limited based in Chennai and SSD Investment Private Limited based in Kolkata have also surrendered their licenses.
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