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Sureka Teknik 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

2 Sept 2014

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of five non-banking financial companies: Unichem Finance & Enterprises Private Limited, Shree Bhagwati Marketing Private Limited, Sureka Teknik Private Limited, Dintara Mercantile Private Limited (presently Royal Fintrade Private Limited), and Shimansu Vyaparik Kendra Ltd. The cancellation was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not state the specific misconduct or violations behind the cancellations, but it makes clear that after cancellation the companies cannot transact the business of a non-banking financial institution.

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration of five non-banking financial companies under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not specify the underlying factual contraventions, only that the registrations were cancelled and the companies are no longer permitted to carry on NBFC business.

Operating Impact

The five affected entities can no longer carry on NBFC business. This removes their authority to transact non-banking financial institution activities, affecting the companies themselves and any counterparties relying on such operations. The release states the prohibition takes effect upon cancellation; no separate deadline is mentioned.

Regulatory Basis

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

Action Facts

Primary Impact
License cancellation
Effective From
17 Jul 2014
Entities Affected
5
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to Sureka Teknik Private Limited

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  1. Shree Bhagwati Marketing Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    2 restrictions

  2. Dintara Mercantile Private Limited (Presently Royal Fintrade Private Limited)

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  3. Shimansu Vyaparik Kendra Ltd

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction

  4. Unichem Finance & Enterprises Private Limited

    NBFC · Kolkata, West Bengal

    1 shared action

    1 restriction