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M/s Apeksha Tours and Travel Private Limited

NBFCKolkata, West Bengal

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

11 Jun 2018

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of six non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The companies listed include Pace Properties Private Limited, Mahajan Vayapar Private Limited, Apeksha Tours and Travel Private Limited, Ravindra Hire Purchase and Finance Private Limited, Oceanic Leasing Company Private Limited, and RPS Finvest Private Limited. Following cancellation, these entities are not permitted to transact the business of a Non-Banking Financial Institution under the RBI Act.

Why RBI Acted

Licensing breach

In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration of six companies. The release states that, as a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined under Section 45-I(a) of the RBI Act, 1934.

Operating Impact

All six companies lose their RBI registration and must stop carrying on NBFC business. Customers and counterparties should not treat them as authorised non-banking financial institutions after the cancellation order dates.

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
26 Mar 2018
Effective From
26 Mar 2018
Entities Affected
6
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to M/s Apeksha Tours and Travel Private Limited

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  1. M/s Mahajan Vayapar Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  2. M/s Oceanic Leasing Company Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  3. M/s Pace Properties Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  4. M/s Ravindra Hire Purchase and Finance Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  5. M/s RPS Finvest Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction