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RBI Cancels Certificate Of Registration Of Two NBFCs

May 21, 2018: The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following 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.

Sr. No.
Company's Name
Address of Registered Office
Certificate of Registration No.
Issued On
Date of cancellation
M/s Growell Auto Leasing Private Limited
Inside Gali PNB, G.T. Road, Batala, Gurdaspur-143505, Punjab
December 08, 2000
May 02, 2018
M/s Adirudh Capital and Investment Private Limited
(Previously known as Desika Vinayagar Credit and Investment Private Limited)
19/1, Sreyas, 7th Street, Tatabad, Coimbatore-641012, Tamil Nadu
December 11, 2012
May 02, 2018

As such, these companies cannot transact the business of Non-Banking Financial Institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Source: Reserve Bank of India (RBI)

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