Certificate of Registration - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of four non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The listed entities are Peekod Finance Company Private Limited, Swarn Finvest Private Limited, Utkarsh Finvest Private Limited, and Vatika Portfolio Private Limited. As a result, they cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificates of registration granted to four companies for carrying on the business of a non-banking financial institution. The action was taken under Section 45-IA(6) of the RBI Act, 1934. Following cancellation, the companies are not permitted to conduct NBFC business.
Severity Assessment
Certificate of Registration cancellation is a severity 5 action, regardless of the number of entities affected.
The four companies must stop NBFC operations and cannot undertake non-banking financial institution business going forward. Any customers, borrowers, or counterparties dealing with these firms are affected by the cessation of their licensed NBFC activities.
Published as M/s. Swarn Finvest Private Limited
Published as M/s. Vatika Portfolio Private Limited
Published as M/s. Peekod Finance Company Private Limited
Published as M/s. Utkarsh Finvest Private Limited
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