8 NBFCs surrender their Certificate of Registration to the RBI
The following eight Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR. i) Cancellation of CoR due to exit from Non-Banking Financial Institution (NBFI)…
Eight Non-Banking Financial Companies (NBFCs) have voluntarily surrendered their Certificate of Registration (CoR) to the Reserve Bank of India (RBI), leading to its cancellation. The RBI, acting under Section 45-IA (6) of the Reserve Bank of India Act, 1934, terminated the CoR for various reasons.
The first group of companies exited the NBFI business, prompting the cancellation of their CoR. Anupam Mercantile Limited and Grand Motor and Finance Private Limited are among them. The second group met the criteria for unregistered Core Investment Companies (CICs), which do not require registration. Anagram Industries Limited and CDN Finance Private Limited are two examples.
The third group consists of Unregistered Type I NBFCs, which do not require registration and do not avail public funds nor have any customer interface. CDN Finance Private Limited and Shivam Securities Private Limited fall into this category. Lastly, two NBFCs ceased to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
Shivam Securities Private Limited and April Investment and Finance Private Limited are among them. The RBI cancelled their CoR accordingly.
Written by urgent.news from Reserve Bank of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
