Sterling Guaranty & Finance Ltd was established on November 21, 1983. Currently, the company is undergoing a process to revive its NBFC business. It has received unsecured interest-free loans from its promoter companies, namely Sterling Investments (India) Ltd., amounting to Rs. 66.40 Lacs, and from Indistock Financial Services Pvt. Ltd. amounting to Rs. 2.75 Lacs.
In 2014, the company ceased its NBFI operations due to its Net Owned Funds (NOF) falling below the minimum required limit. A potential solution to improve the company's fortunes is merging with Sterling Investments (India) Ltd.
The company has been inactive, registering no business activity in 2016, resulting in a net loss of Rs. 6.45 Lacs due to zero operating income and minimal statutory & compliance expenses. To meet statutory liabilities, one of its promoter companies provided interest-free funds of Rs. 6.40 Lacs during the same year.
On June 17, 2016, the Reserve Bank of India advised the company to present a concrete, time-bound action plan to either increase its NOF to Rs. 200 Lacs or surrender its Certificate of Registration (COR). The company has refrained from conducting NBFI business as directed by the RBI due to insufficient NOF.
In 2014, the company ceased its NBFI operations due to its Net Owned Funds (NOF) falling below the minimum required limit. A potential solution to improve the company's fortunes is merging with Sterling Investments (India) Ltd.
The company has been inactive, registering no business activity in 2016, resulting in a net loss of Rs. 6.45 Lacs due to zero operating income and minimal statutory & compliance expenses. To meet statutory liabilities, one of its promoter companies provided interest-free funds of Rs. 6.40 Lacs during the same year.
On June 17, 2016, the Reserve Bank of India advised the company to present a concrete, time-bound action plan to either increase its NOF to Rs. 200 Lacs or surrender its Certificate of Registration (COR). The company has refrained from conducting NBFI business as directed by the RBI due to insufficient NOF.
