Daffordils Finance Limited, Seohara

RBI cancelled the Certificate of Registration of Daffordils Finance Limited, Seohara. The company was also barred from accepting deposits and alienating assets.

Daffordils Finance Limited must stop operating as an NBFC and cannot accept deposits or dispose of assets as prohibited by RBI. This is a complete forward-looking shutdown of its regulated NBFC activities and affects customers and counterparties dealing with the company.

• Section 45-IA (6) of the Reserve Bank of India Act, 1934
• Section 45-MB (1) of this Act
• Section 45-MB (2) of this Act

+1 more in the case brief

RBI cancelled the Certificate of Registration of Daffordils Finance Limited, Seohara. The company is now barred from conducting NBFC business and from accepting deposits or alienating assets.

The company must stop NBFC operations and cannot accept fresh deposits or dispose of assets. The restriction is effective from the cancellation date, and it directly affects the firm’s ability to conduct financial business and protect depositor interests.

• Section 45-IA (6) of the Reserve Bank of India Act, 1934
• Section 45MB (1)
• Section 45MB (2)