The certificate of registration of three non-banking finance companies has been cancelled by the Reserve Bank of India (RBI). The companies are KNR Finance & Investments Private Limited and Bharat Finance Corporation Private Limited, both of them now cannot continue to do transact business of an NBFC, RBI release stated.
KNR Finance & Investments registered office is located at Channarayapatna at Hassan district of Karnataka. RBI said, it has cancelled the registration under the powers conferred to it under the section 45-IA (6) of the Reserve Bank of India Act, 1934.
The other NBFC whose certificate of registration has been cancelled by RBI is Bharat Finance Corporation Private Limited, who had attained the certificate on 31 August 2009. The registered office of NBFC is in New Delhi.
The certificate of registration of San Components Limited, has also been cancelled by RBI, its registered office is also located in New Delhi.
According to RBI release the company has voluntarily opted to exit from the business of a non-banking financial institution.
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