Reserve Bank cancels registration of 3 NBFCs

Reserve Bank today said it has cancelled the registration certificate of three non-banking financial companies (NBFCs) following which these firms would not be able to carry on their business activities.
The three NBFCs, whose license has been canceled are Chandigarh-based Shubh Leasing Pvt Ltd, Global Securities of Ahmedabad and Amitosa Leasing and Finance based out of Thane, Maharashtra.
"Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution", RBI said.
Besides, RBI said that 10 NBFCs have surrendered their registration certificate.
Among those surrendering their licences include IGL Finance (Udhamsingh Nagar, Uttarakhand); Gee Bee Assam Private Ltd (Guwahati); Rupa Equities Private; Shekhar Holdings and others.