M/s. Integrated Finance Company Limited

RBI cancelled the CoR of two NBFCs, Todays Holdings Private Limited and Integrated Finance Company Limited. Both companies can no longer conduct non-banking financial institution business.

Both companies must stop NBFC business operations going forward. Their customers and counterparties can no longer treat them as authorised non-banking financial institutions, and any further activity in that capacity would be unauthorised.

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

This RBI action affected 2 entities. This profile is linked as bulk member.

RBI prohibited Integrated Finance Company Ltd., Chennai from accepting public deposits until further orders. It also restricted the company from dealing with its properties and assets without prior written permission.

The company cannot raise public deposits or renew existing deposits until RBI lifts the order. It also cannot dispose of or encumber its assets without prior written approval, limiting its liquidity and operational flexibility.

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