RBI cancels Certificate of Registration of 5 NBFCs
Case Brief
RBI exercised its powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the Certificates of Registration of five NBFCs. The affected entities are M/s Cygnus Publishers Limited, M/s Nortel Tracom Private Limited, M/s Rakshit Motor and General Finance Limited, M/s Deep Motor Finance Limited, and M/s Mansarovar Deposit and Advances Private Limited. After cancellation, these firms cannot transact the business of a non-banking financial institution under the RBI Act.
The Reserve Bank of India cancelled the Certificate of Registration of five NBFCs in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The listed companies include M/s Cygnus Publishers Limited, M/s Nortel Tracom Private Limited, M/s Rakshit Motor and General Finance Limited, M/s Deep Motor Finance Limited, and M/s Mansarovar Deposit and Advances Private Limited. Following cancellation, these companies are not permitted to carry on the business of a non-banking financial institution as defined under clause (a) of Section 45-I of the RBI Act, 1934.
Severity Assessment
Cancellation of Certificates of Registration is a complete licensing action, which falls in severity 5.
The five NBFCs are barred from conducting NBFC business after the cancellation of their Certificates of Registration. This directly affects the companies and their counterparties, and any further non-banking financial activity would be impermissible.
Published as M/s Cygnus Publishers Limited
Published as M/s Rakshit Motor and General Finance Limited
Published as M/s Mansarovar Deposit and Advances Private Limited
Published as M/s Nortel Tracom Private Limited
Published as M/s Deep Motor Finance Limited
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector