Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of seven non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The affected companies are Suarabhakti Goods Private Limited, Sirmour Holdings Private Ltd., Springfield Vinimay Private Limited, Sobell Finance Limited, Swojas Finance Private Limited, Zytel Investments Limited, and Raw Gold Securities Limited. Following cancellation, they cannot transact the business of a non-banking financial institution under Section 45-I(a) of the RBI Act.