Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of four non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The companies named are M/s. Goyal Commercial Pvt. Ltd., M/s. First Debt Management Co. of India Ltd., M/s. Nostalgia Finvest Private Limited, and M/s Narad Realtors Private Limited. The release cites the statutory power used but does not describe the underlying conduct or violations. Following cancellation, these entities are barred from transacting the business of a non-banking financial institution.