ENA Sectors 2018-06-21 07:42:26 <p><strong>Mumbai, June 21 (KNN)</strong> As many as 12 Non-Banking Financial Companies (NBFCs) have stopped operations after the Reserve Bank of India (RBI) on June 20 cancelled Certificates of Registrations of 5 NBFCs while 7 other submit their certificates to the apex bank.</p> <p>RBI said these companies cannot transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934</p> <p>The NBFCs to get blacklisted by RBI are Kolkata, West Bengal based Lords Steel Industries Limited; Axon Trading and Manufacturing Co. Ltd; Rasoi Finance Limited (presently known as Looklink Finance Limited); Pallawi Trading and Manufacturing Co. Ltd; Surdas Trading and Manufacturing Co. Ltd; Noble Trading Co. Ltd; and Mumbai based Nariman Point Finance Limited.</p> <p>The NBFCs to surrender Certificates are - Cygnus Publishers Limited; Nortel Tracom Private Limited; Rakshit Motor and General Finance Limited; Deep Motor Finance Limited; and Mansarovar Deposit and Advances Private Limited. <strong>(KNN Bureau)</strong></p> 20127 http://knnindia.co.in/news/newsdetails/sectors/rbi-blacklists-5-nbfcs-7-other-surrender-certificates 2018-06-21 07:42:26 knnindia.co.in