Reserve Bank of India has cancelled the registration of 31 non-banking finance companies
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Hyderabad: According to the Telangana Crime Investigation Department, the Reserve Bank of India has cancelled the registration of 31 non-banking finance companies, including Margadarsi Finance Session (P) Ltd. and Margadarsi Investment & Leasing Company Pvt. Ltd.
The Reserve Bank of India has issued cancellation orders under Section 45-1(a) 6 of the RBI Act that speaks about registration and cancellation in case of violation. According to this Section, the Reserve Bank of India may cancel the registration if the Non-Banking Financial Companies ceases to carry on the business of a non-banking financial institution or fails to comply with any condition subject to the certificate of registration.
Additional director general of the Crime Investigation Department Charu Sinha said, “The public is being cautioned that they shall not enter into any kind of financial transaction with these companies.”
Companies in dock:
?Yukta Finance Pvt Ltd, Secunderabad.
Emergy Finance & Investments Ltd, Hakeempet
Sri Sri Hire Purchase & Finance Ltd, Seethaphalmandi
Siri Auto Financiers Pvt Ltd, Khammam
Margadarsi Investment & Leasing Company Pvt Ltd, Eenadu Complex, Somajiguda
Sri Vishnu Finance and Investment Pvt Ltd, Jubilee Hills
HCG Investment &Impex Ltd, Jeedimetla
Avyaya Finance Ltd, Karkhana
Sri Sri Hire Purchase & Finance Ltd, Secunderabad
DSL Finance Pvt Ltd, Somajiguda
BNR Udyog Ltd, Somajiguda
Nano Financial Services India Pvt Ltd, Somajiguda
Bambino Finance Pvt Ltd, Saroornagar
M/s GN Vasavi Finance Ltd, Punjagutta
M/s Shubham Financial Services Ltd, Secunderabad
M/s ChenaiFinanceco Ltd, Adarshnagar
M/s RR Finance and Projects Ltd, Ameerpet
M/s Sri Mahalakshmi Finance Services Ltd, Ram Koti
M/s Maruti Securities Ltd, Secunderabad
M/s Proddutur Investments Ltd, Tadbund
M/s Magnil Finance & Hire Purchase Pvt Ltd, Nallakunta
M/s Suryalaxmi Securities Ltd, Domalguda
M/s Bhavya Capital Services Ltd, Narayanguda
M/s Seagull Leafin Ltd, KPHB Colony
M/s Sriman Sai Securities & Investments Finance Ltd, Karimnagar
M/s GN Vasavi Finance Ltd, Punjagutta
M/s Seghal Leasing & Investments Ltd, Raj Bhavan Road
M/s Vikrant Investments &Impex Ltd, Balanagar
M/s. Margadarsi Finance session (P) Ltd, Somajiguda,
M/s. Cyclo investments Pvt Ltd, Ameerpet
M/s Naryen Finance and Investments Ltd, Narayanguda
( Source : dc correspondent )
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