Case Brief
What Happened
RBI has cancelled the Certificate of Registration of seven companies under Section 45-IA(6) of the RBI Act, 1934. The affected entities are Malpani Financial Services Private Limited, Vishav Dealer Private Limited, U K Fin Services Limited, Prabhat (India) Limited, Compusta Securities Private Limited, Harshant Investments Private Limited, and Sajjan Commercial Enterprises Ltd. As a result, these companies are barred from transacting the business of a non-banking financial institution under the RBI Act.