RBI cancelled registration of 30 plus Finance Companies includes Margadarsi Chit Fund

Reserve Bank of India (RBI) has de-registered 31 non-banking finance companies including Margadarsi Finance Session Pvt. Ltd and Margadarsi Investment and Leasing Company Pvt. Ltd based on Telangana Crime Investigation department report.

Under section of 45-1(a) 6 of the RBI Act the Reserve Bank of India has issued cancellation orders to the concerned finance companies for violation of rules.

The Act speaks about, if the Non-banking Financial companies ceases to carry on the business of a non-banking financial institution or fails to comply with any condition subject to the certificate of registration may cancel that company registration.

Registration cancelled finance companies list as follows:

• Yukta Finance Pvt Ltd, Secunderabad.
• Emergy Finance & Investments Ltd, Hakeempet
• Sri Sri Hire Purchase & Finance Ltd, Seethaphalmandi
• Siri Auto Financiers Pvt Ltd, Khammam
• Margadarsi Investment & Leasing Company Pvt Ltd, Eenadu Complex, Somajiguda
• Sri Vishnu Finance and Investment Pvt Ltd,  Jubilee Hills
• HCG Investment &Impex Ltd, Jeedimetla
• Avyaya Finance Ltd, Karkhana
• Sri Sri Hire Purchase & Finance Ltd, Secunderabad
• DSL Finance Pvt Ltd, Somajiguda
• BNR Udyog Ltd, Somajiguda
• Nano Financial Services India Pvt Ltd, Somajiguda
• Bambino Finance Pvt Ltd, Saroornagar
• M/s GN Vasavi Finance Ltd, Punjagutta
• M/s Shubham Financial Services Ltd, Secunderabad
• M/s ChenaiFinanceco Ltd, Adarshnagar
• M/s RR Finance and Projects Ltd, Ameerpet
• M/s Sri Mahalakshmi Finance Services Ltd, Ram Koti
• M/s Maruti Securities Ltd,  Secunderabad
• M/s Proddutur Investments Ltd, Tadbund
• M/s Magnil Finance & Hire Purchase Pvt Ltd, Nallakunta
• M/s Suryalaxmi Securities Ltd,  Domalguda
• M/s Bhavya Capital Services Ltd, Narayanguda
• M/s Seagull Leafin Ltd, KPHB Colony
• M/s Sriman Sai Securities & Investments Finance Ltd, Karimnagar
• M/s GN Vasavi Finance Ltd, Punjagutta
• M/s Seghal Leasing & Investments Ltd, Raj Bhavan Road
• M/s Vikrant Investments &Impex Ltd, Balanagar
• M/s. Margadarsi Finance session (P) Ltd, Somajiguda,
• M/s. Cyclo investments Pvt Ltd,  Ameerpet 
• M/s Naryen Finance and Investments Ltd, Narayanguda

CID department cautioned to the public that they should not indulge in any transactions with the above deregistered finance companies listed out by RBI.

Telangana

Tuday