RBI blacklists 2 NBFCs, 15 other submit certificates

Mumbai, Aug 25 (KNN) The Reserve Bank of India (RBI) has blacklisted Punjab based two non-banking financial companies (NBFCs) while 15 others have submitted their certificates to the apex bank.

RBI has cancelled the certificate of registration of - Jalandhar (Punjab) based M/s S.R.F. Hire Purchase Pvt. Ltd and Ludhiana (Punjab) based M/s Mitter Finance Company Limited.

RBI said, “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.”

Further, 15 other NBFCs from across country have submitted their certificates of registrations.

The NBFCs that have submitted their certificates are - New Delhi based M/s Esteem Finventures Limited, M/s Shreekant Chemical Industries Limited; Kolkata based M/s Borosil Holdings Limited (Presently Borosil Holdings LLP), M/s Gajraj Commercial Private Limited, M/s Shyamji Securities (P) Lttd, M/s Ess-Kay Leasing & Finance Private Limited, M/s Poddar Resources Private Limited; Mumbai based M/s Pawan Leasing And Growth Fund Limited, M/s S. R. Doshi Finance & Investment Limited etc.