RBI cancels Certificate of Registration of 3 NBFCs

Mumbai, Jan 5: The Reserve Bank of India (RBI) has cancelled the certificate of registration of the three non-banking financial companies (NBFCs).

RBI has Cancelled the Certificate of Registration in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
The companies whose Certificate of Registration has been cancelled are M/s Alchemist Holdings Limited (Formerly known as M/s Mahindra Finlease Private Limited),M/s Sukh-Chain Finance Company Limited and M/s Rishab Financial Services Limited.
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. UNI