Skip to Main Content

Bharat Ekansh Limited

NBFCDelhi, Delhi

The RBI action, regulatory basis, and operating impact linked to this entity.

Recorded RBI impact

License cancellation

License cancellation · Fresh imposition

S5

Published by RBI

15 Nov 2019

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of 25 NBFCs under Section 45-IA(6) of the RBI Act, 1934. The listed companies are spread across Delhi, Kolkata and Assam and include Hindon Investment Ltd., Shinam Estate & Finvest Private Limited, STS Finvestment Private Limited, Zuha Financial Services Limited, DBG Leasing and Housing Limited, and others. Following cancellation, the release explicitly says these companies shall not transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the RBI Act.

Why RBI Acted

Licensing breach

The Reserve Bank of India exercised its powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the Certificate of Registration of 25 named companies. The release states that, as a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.

Operating Impact

The 25 affected companies are no longer permitted to carry on NBFC business. They must stop undertaking non-banking financial institution activities, and customers/counterparties should not treat them as authorised NBFCs from the cancellation dates stated in the release.

Regulatory Basis

  • Section 45-IA (6) of the Reserve Bank of India Act, 1934
  • Section 45-I of the RBI Act, 1934

Action Facts

Primary Impact
License cancellation
Order Date
30 Aug 2019
Effective From
30 Aug 2019
Entities Affected
25
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to Bharat Ekansh Limited

˳

  1. ABD Securities Private Limited

    NBFC · Delhi, Delhi

    1 shared action

    1 restriction

  2. Amardeep Constructions (P) Ltd

    NBFC · Delhi, Delhi

    1 shared action

    1 restriction

  3. Amba Credit and Investment Private Limited (previously known as Point Securities Private Limited)

    NBFC · Delhi, Delhi

    1 shared action

    1 restriction

  4. Ameri Properties and Investments (P) Ltd

    NBFC · Delhi, Delhi

    1 shared action

    1 restriction

  5. Annupriya Finance Limited

    NBFC · Delhi, Delhi

    1 shared action

    1 restriction