RBI cancels certificate of registration of 5 finance companies

New Delhi: The Reserve Bank of India (RBI) has cancelled the certificate of registration of the five non-banking financial companies (NBFCs) The company are whose registration has been cancelled are M/s Simco Consultants Private Limited, M/s Lunkad Securities Ltd, M/s Rajvir Marketing and Investment Private Limited, M/s Crystal Investments Limited and M/s Shri Jaya Investments Agency Limited (formerly known as Arcot Finance & Agency Limited).

RBI has cancelled the Certificate of registration in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. 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. (UNI)