V & C Vaults and Finance Ltd

The Reserve Bank of India cancelled the Certificate of Registration of five companies under Section 45-IA(6) of the RBI Act, 1934. The listed companies are Ronnie Finance Limited, V & C Vaults and Finance Ltd., Swaran Finance Limited, Mangalam Tradefin Private Limited, and Dalbir Finance and Investment Company Private Limited. As a consequence, these companies shall not transact the business of a Non-Banking Financial Institution as defined in clause (a) of Section 45-I of the RBI Act, 1934.

The five named companies lose their RBI registration and are prohibited from conducting NBFC business going forward. Any customers, borrowers, and counterparties dealing with them must treat the entities as no longer authorised to operate as non-banking financial institutions. The release specifies cancellation dates for each company, with the final date listed as January 07, 2019 for Dalbir Finance and Investment Company Private Limited.