RBI has issued a Cautionary vide its advertisement where in it had issued prohibitory order against Arshdeep Finance Ltd in some of the leading dailies recently.The company is a Non Banking Finance; Asset Finance company and their registered office address is Block-E9; Flat No. 2, 2nd Floor; Kalkaji; New Delhi-110019.
The reason for such a prohibitory order is misuse of Certification of Registration for mobilising Public Deposits which were mobilised under the name of "Waris Finance/Waris Growth/Waris Group/Warsi Group.The honourable RBI under relevant sections has prohibited this company to accept public deposits, selling, transferring, creating charge or mortgaging or dealing in any manner with its propery and assets without the prior permission of the Bank. It is important to note that while such an order was in vogue since December 07 2012; the RBI wef from 16 August has renewed the prohibitory order. As such M/s. Arshdeep Finance Ltd are not authorised to accept deposits from the general public either directly or indirectly thorough any of their subsidiaries or group companies mentioned above.