The Reserve Bank of India in a statement released reported canceled registration of 22 non-banking financial companies (NBFCs) including Amazan Capital and Mascot Commerce.
According to the RBI, it has canceled the certificate of registration of the NBFCs in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934.
"Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution," the statement added.
Earlier this month, the RBI had canceled registration of six other NBFCs including the including Kundan Leasing and Finvest, Raseera Investments, Limtex Impex, Dignity Motors Finance, Akansha Consultancy Services, Bini Commercial Enterprises, Nirankar Investments, and Surin Investments.
