RBI cancels registration certificate of three NBFCs

The Reserve Bank has cancelled registration certificate of three non-banking financial companies (NBFCs).

The three NBFCs are Bengaluru-based Malpani Holdings Private Ltd, Sachsons Leasing and Finance of New Delhi and Mumbai based Tej Gaurav Finance Limited.

"The Reserve Bank has cancelled the certificate of registration of three non-banking financial companies (NBFCs)," IT said in a notification.

Following the cancellation of registration certificate, these companies cannot transact the business of a non-banking financial institution, RBI added.