Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of six non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The named entities are M/s Gyanijay Tradecomm Private Limited, M/s Accurate Tracon Pvt. Ltd., M/s Navneet Vinimay (P) Ltd., M/s Rahul Fintrade Private Ltd., M/s S.A. Mercantile Commercial (P) Ltd., and M/s Brindaban Holdings and Trading Limited. Following the cancellation, these companies cannot transact the business of a non-banking financial institution as defined under Section 45-I(a).