The Reserve Bank on India on 27th of June on Thursday cancelled the registration of 23 non-banking financial companies and four non banking financial companies surrendered their certificate of registration granted to them by The RBI under section 45-IA (6) of the Reserve Bank of India act, 1934.
Future Vision Securities Ltd, Vatsalya Holdings Private, Limited Vatsalya Holdings Private Limited, Sahayta Finance & Leasing Private Limited, Deluxe Vyapaar Private Limited are just a few names whose registration have been cancelled by the RBI and the four NBFCs, who have surrendered their certificate of registration are KPC Insurance Advisors Private Limited, Tanwi Estates Pvt Ltd, Caravan Commercial Company Pvt Ltd, Twinkle Leasing and Finance (Delhi) Ltd. Out of these four NBFCs two are based in Kolkata, One is based in Delhi and another is based in Mumbai. Now these four NBFCs will no longer be able to transact the business of a non banking financial institution as defined in clause 45(1) of the RBI Act 1934.
The decision has come when this non banking financial sector is reeling under huge distress and is facing set of challenges such as asset-liability mismatch, credit squeeze etc.
KRChoksey Insurance Advisors Limited was incorporated on 05 July 1988. It is registered as non-govt company. Its authorized share capital is Rs. 6,500,000 and its paid up capital is Rs. 6,000,000.
Tanwi Estates Pvt Ltd is a Private incorporated on 13 June 1996. It is classified as non-govt company and is registered at Registrar of Companies, Kolkata. Its authorized share capital is Rs 8,000,000 and its paid up capital is Rs. 7,607,000. It is involved in Real estate activities with own or leased property. [This class includes buying, selling, renting and operating of self-owned or leased real estate such as apartment building and dwellings, non-residential buildings, developing and subdividing real estate into lots etc. Also included is development and sale of land and cemetery lots, operating of apartment hotels and residential mobile home sites.
Caravan Commercial Co Ltd is a Public incorporated on 12 June 1981. It is classified as non-govt company and is registered at Registrar of Companies, Kolkata. Its authorized share capital is Rs. 15,000,000 and its paid up capital is Rs. 12,957,410. It is involved in other wholesale
Twinkle Leasing And Finance Delhi Limited is a Public incorporated on 19 July 1984. It is classified as non-govt company and is registered at Registrar of Companies, Delhi. Its authorized share capital is Rs. 2,500,000 and its paid up capital is Rs. 2,490,000. It is involved in other financial intermediation. [This group includes financial intermediation other than that conducted by monetary institutions.]