RBI cancelled Margdarshak Financial Services Ltd's registration due to NPAs, defaults, and insufficient capital.
RBI cancelled Margdarshak Financial Services Ltd's registration due to high non-performing assets (NPAs), defaults on repayment to lenders, and failing to meet the required minimum regulatory net owned fund and capital adequacy ratio. The company faced cash flow issues and defaulted on Rs 49.27 crore repayment. These factors led to material uncertainty over its ability to continue as a going concern.
August 23, 2024
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