M/s Mansarovar Deposit and Advances Private Limited

The Reserve Bank of India cancelled the Certificate of Registration of five NBFCs in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The listed companies include M/s Cygnus Publishers Limited, M/s Nortel Tracom Private Limited, M/s Rakshit Motor and General Finance Limited, M/s Deep Motor Finance Limited, and M/s Mansarovar Deposit and Advances Private Limited. Following cancellation, these companies are not permitted to carry on the business of a non-banking financial institution as defined under clause (a) of Section 45-I of the RBI Act, 1934.

The five NBFCs are barred from conducting NBFC business after the cancellation of their Certificates of Registration. This directly affects the companies and their counterparties, and any further non-banking financial activity would be impermissible.