Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of six NBFCs: Thamiraparani Investments Private Limited, Aramusk Infrastructure Investments Limited, Viswapriya Gold Hire Purchase Limited (name changed in MCA records to Viswapriya Finance Limited), Matrix Financial Services Ltd, Unitara Finance Limited, and Well Fin Securities Limited. The action was taken under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, these companies are not permitted to transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the RBI Act.