Case Brief
What Happened
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 28 companies. The release lists the affected entities and their registered office addresses and dates of cancellation. Following cancellation, the companies are not permitted to transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act.
Quick Facts
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date
- Unknown date
- Effective From
- 28 Nov 2018
- Entities Affected
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration (CoR) of 28 listed companies under Section 45-IA(6) of the RBI Act, 1934. As a result, these entities can no longer transact business as a Non-Banking Financial Institution as defined under Section 45-I(a) of the Act.
Severity Assessment
Cancellation of Certificate of Registration is a license cancellation, which is severity 5 regardless of any monetary amount.
Impact
All 28 companies lose their RBI registration and must stop carrying on NBFC business. Customers and counterparties can no longer treat them as registered non-banking financial institutions, and any future NBFC activity would be unauthorized.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I(a) of the RBI Act, 1934
Restrictions & Effective Timeline
- Effective From
- 28 Nov 2018
Affected Entities
- Ferguson Traders Private LimitedNBFC · Bulk Member
Published as Ferguson Traders Private Limited
- Jyoti (India) Ltd. (Presently Known as Jyoti Business Ltd.)NBFC · Bulk Member
Published as Jyoti (India) Ltd. (Presently Known as Jyoti Business Ltd.)
- SFSL Investments LimitedNBFC · Primary
Published as SFSL Investments Limited
- Kutumb Vyapaar Private LimitedNBFC · Bulk Member
Published as Kutumb Vyapaar Private Limited
Official RBI Source
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.