The Reserve Bank of India (RBI) has cancelled the certificate of registration of the following two non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
|Sr. No.||Name of the Company||Registered Office Address||CoR No.||Issued On||Cancellation Order Date|
|1||M/s GFL Financials India Limited||10/2, Ramganj, Jinsi, Indore – 452002||B.03.00159||August 24, 2002||October 18, 2017|
|2||M/s Alagendran Finance Limited
(Presently M/s Sai Jeevadhara Finance Limited)
|No. 43-E, II Floor, New Avadi Road, Kilpauk, Chennai – 600010||B-07.00254||May 02, 2005||October 18, 2017|
Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution as laid down under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
Press Release: 2017-2018/1497