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M/s Sambandh Finserve Private Limited

NBFCNew Delhi, Delhi

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

12 Oct 2021

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of six companies under Section 45-IA(6) of the RBI Act, 1934. The companies named are Cartel Finance and Investments Private Limited, Alamgir Motor Finance Limited, Nau-Nidh Finance Limited, Kim Investment Limited, Sambandh Finserve Private Limited, and BTL Holding Company Limited. Following cancellation, they are not permitted to transact the business of a non-banking financial institution under Section 45-I(a) of the RBI Act, 1934.

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration (CoR) of six companies under Section 45-IA(6) of the RBI Act, 1934. The release lists the affected companies and their CoR issuance and cancellation dates. As a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.

Operating Impact

All six entities must cease NBFC business activities covered by the RBI Act. Customers and counterparties should not treat them as authorised non-banking financial institutions after the cancellation dates mentioned in the release.

Regulatory Basis

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

Action Facts

Primary Impact
License cancellation
Order Date
5 Jul 2021
Effective From
5 Jul 2021
Entities Affected
6
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to M/s Sambandh Finserve Private Limited

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  1. M/s Alamgir Motor Finance Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  2. M/s BTL Holding Company Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  3. M/s Cartel Finance and Investments Private Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  4. M/s Kim Investment Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  5. M/s Nau-Nidh Finance Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction