Case Brief
What Happened
The Reserve Bank of India cancelled the Certificates of Registration of five non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The companies named in the release include Simco Consultants Private Limited, Lunkad Securities Ltd, Rajvir Marketing and Investment Private Limited, Crystal Investments Limited, and Shri Jaya Investments Agency Limited. The release states that, following cancellation, these companies cannot transact the business of a non-banking financial institution under Section 45-I(a) of the Act.