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Kosha Investments Limited

NBFC

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

24 Sept 2018

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of 14 companies, including Banhem Securities Private Limited, Esquire Engineering Ltd., J.V. Gokal Finance And Investments Private Limited, and others, under Section 45-IA(6) of the RBI Act, 1934. The order means these entities are no longer permitted to transact the business of a Non-Banking Financial Institution as defined in the Act. The release provides the names, registered office addresses, CoR numbers, issue dates, and cancellation dates for each company.

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 (CoR) of 14 companies. As a result, these entities ceased to be permitted to transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act. The notice lists each company and the respective date of cancellation, with the latest date shown as June 30, 2018 or August 01, 2018 depending on the company.

Operating Impact

The 14 affected companies must stop carrying on NBFC business immediately upon cancellation of their CoR. Customers and counterparties should not treat them as authorised non-banking financial institutions going forward. The action is effective from the stated cancellation dates (June 30, 2018 or August 01, 2018, depending on the company).

Regulatory Basis

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

Action Facts

Primary Impact
License cancellation
Order Date
1 Aug 2018
Effective From
1 Aug 2018
Entities Affected
14
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to Kosha Investments Limited

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  1. Banhem Securities Private Limited

    NBFC

    1 shared action

    1 restriction

  2. Esquire Engineering Ltd

    NBFC

    1 shared action

    1 restriction

  3. Gold Rock Agro-Tech Limited

    NBFC

    1 shared action

    1 restriction

  4. Gold Rock Metals Limited

    NBFC

    1 shared action

    1 restriction

  5. J.V. Gokal Finance And Investments Private Limited

    NBFC

    1 shared action

    1 restriction