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4 NBFCs lose licenses, 7 others surrender

rbi1_660_041115053407The Reserve Bank of India has cancelled licenses of four non-banking financial companies. The companies whose licenses have been cancelled are Kolkata-based Neelanjali Engineering, and Novoflex Tradecom; Mumbai-based Guide Investments and Trading, and Pune-based Enol Ventures. As such, the companies cannot transact the business of non-banking financial institution, RBI said.

In a separate statement, RBI said seven other Maharashtra-based NBFCs have surrendered their registration certificates following which they will not be allowed to transact their financial business. Out of the seven firms, six are based in Mumbai and one in Pune. These companies include Eureka Finvest, Baroda Industries, VH Doshi and Sons Investment, and Vinodchandra Doshi Investment.

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