RBI cancels Certificate of Registration of 2 NBFCs

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 The Metropolitan Finance Private Limited
(presently known as The Metropolitan Finance Limited)
H. No. 22 B/B, Extn. 2, Gandhi Nagar, Jammu- 180 012 B-1100068 January 01, 2002 December 19, 2017
2. M/s Singhland Investments Limited
(previously known as M/s Baba Finance Private Limited)
208, Syal Complex, Gill Road, Millerganj, Ludhiana-141 003, Punjab A.06.00227 July 13, 2011 March 16, 2018

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.

Ajit Prasad
Assistant Adviser

Press Release: 2017-2018/2782

Source: RBI Press Releases

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