In a separate development,
13 NBFCs have voluntarily surrendered their registrations. According to RBI, these entities either exited the NBFC business, were classified as unregistered core investment companies (CICs) that did not require registration, or ceased to exist as legal entities following amalgamation, merger, dissolution or voluntary strike-off.
In these two separate notifications, RBI said the registrations of 135 NBFCs were cancelled under Section 45-IA (6) of the RBI Act, 1934. The cancellations were primarily due to non-compliance with regulatory requirements, failure to meet conditions under which registration had been granted, or cessation of NBFC activities. As a result, these companies are no longer permitted to carry on the business of a non-banking financial institution (NBFI).
Among the entities whose registrations have been cancelled are: Maharashtra-based Toplight Tradelink Pvt Ltd, Esenpro Finance and Investment Pvt Ltd, Essel Finance Business Loans Ltd and Jeewan Commodities Pvt Ltd. The list also includes Delhi-based Gunjan Distributors Pvt Ltd and Liberson Commodities (P) Ltd; Telangana-based Citiwide Financial Services Ltd; Madhya Pradesh-based Kiranglobal Business Investment Ltd and Chamak Trexim (P) Ltd; Manipur-based Uppal Credits and Investments Pvt Ltd; and Assam-based Express Fincap House Pvt Ltd.
The list of cancelled registrations also includes several West Bengal-based companies, such as: Akshay Fiscal Services Ltd, Alfa Tie-Up Private Limited, Arihant Enterprises Ltd, Destiny International Limited, Eastern Synthetics Pvt Ltd, Elegance Trade & Holdings Pvt Ltd, Elgin Sales Promotion Ltd, Elvis Securities Pvt Ltd, Enn Financial Services Ltd, ETL Infrastructure Finance Limited, Exim Scrips Vanijya Pvt Ltd, Fern Investment & Services Ltd, Flicker Trading Ltd, Gagan Vinimay Pvt Ltd, Gajendra Raj Commerce Pvt Ltd, Global Resins & Chemicals Ltd, BD Finance Pvt Ltd, BK Investment Services Pvt Ltd, Baba Iron Industries Pvt Ltd, Balaji Dealers (P) Ltd, Everest Agro Industries (P) Ltd, Hari Vyapaar (P) Ltd, Bee Dee Traders Pvt Ltd, Bhagwandas Vyapar Udyog Ltd, Consolidated Mercantiles Pvt Ltd, Shree Suraj Cold Storage Pvt Ltd, PLG Power Ltd, Goldwin Merchandise Pvt Ltd, Zigma Software Ltd, Gurupath Merchandise (P) Ltd and Gypsun Impex (P) Ltd.
The list also includes: GLD International Ltd, Gama Business (P) Ltd, Ganpati Waterview Pvt Ltd, Ginni Vinimay Pvt Ltd, Harsh Credit Pvt Ltd, Hi-Gain Consultancy Services Pvt Ltd, Galore Suppliers (P) Ltd, Gateway Fincons India Ltd, Fastner Mercantile Pvt Ltd, Jai Hanuman Sales (P) Ltd, Jay Aar Commercial Pvt Ltd, Esteem Tradecomm (P) Ltd, Fidelity Holdings (P) Ltd, Fitworth Distributors (P) Ltd, Fujitsu Capital Markets Ltd, Intlow Leasing And Finance Pvt Ltd, Iswaryam Mercantile Pvt Ltd, Jagajyoti Commodities Pvt Ltd, Gautam Resources Ltd, Gleam Finance Pvt Ltd, Gangol Tracon (P) Ltd, Galaxy Merchants (P) Ltd, Gopalka Motor Investo (P) Ltd, Gopikar Supply (P) Ltd, Grade Merchandise (P) Ltd, Jewel Rock Tracon Pvt Ltd, Jill Mill Communications & Finvest (P) Ltd, Jorehaut India Ltd and Jugantar Merchantile (P) Ltd.
Other entities from West Bengal named in the order are: Harman Hire Purchase Pvt Ltd, Honourable Business (P) Ltd, Iee Business Finance (P) Ltd, Hind Electrical & General Industries Ltd, Cyber Family.Com Ltd, Kailash Impex Pvt Ltd, Kalyani Synthetics Pvt Ltd, Karnimata Commerce (P) Ltd, Katpadi Dealers (P) Ltd, Kaushal Vanijya Pvt Ltd, Kds Micro Credit Services Pvt Ltd, Khera Motor Finance Pvt Ltd, Konark Commerce & Industries Ltd, Kotriwal Commercial (P) Ltd, KPS Finance & Trade (P) Ltd, Pyramid Distributors & Sales Pvt Ltd, Quantum Impex (P) Ltd, RK Metal & Wood Products (P) Ltd, RN Trading & Holdings Pvt Ltd, Rahul Adsorbents (P) Ltd, Raina Commodities Pvt Ltd, Rajath Commercial (P) Ltd, Ready Dealers (P) Ltd, Regal Ingot Pvt Ltd, Regent Business (P) Ltd, Remix Vanijya Pvt Ltd, Richhold Trading (P) Ltd, Rightex Trading Pvt Ltd, RKA Commercial (P) Ltd and Rohtang Commercial (P) Ltd.
Additionally, Toshita Fiscal Services Pvt Ltd, Track Fined Pvt Ltd, Transeem Commercial (P) Ltd, Trend Sales (P) Ltd, Tricon Estates (P) Ltd, Trincas Agencies & Commerce (P) Ltd, Swarn Vanijya Pvt Ltd, Swarnaganga Vinimay (P) Ltd, Swaroop Commercial Co (P) Ltd, Tanjore Vanijya Pvt Ltd, Tara Vinimay (P) Ltd, Thirdwave Holdings (P) Ltd, Thunder Traders Ltd, Times Finance (P) Ltd, Times Tracon Pvt Ltd, Top Ten Vanijaya (P) Ltd, Lifetime Financial Services Ltd, Limtex Investments Ltd, Jupiter Projects (P) Ltd, MDA Commercial Pvt Ltd, Macro Leafin Pvt Ltd, Mars Industrial Design (P) Ltd, Marvel Marketings (P) Ltd, Sunshine Housecon Ltd, Mayank Commercial & Finvest Ltd, Medhawi Traders Ltd, Jupiter Finvest Pvt Ltd, Roli Trading (P) Ltd, Rosy Commercial (P) Ltd, Royal Seeds & Fertilisers Pvt Ltd, RST Holdings (P) Ltd, Rup Tradecomm Pvt Ltd, SBR Credit (P) Ltd and SK Stock Dealers Pvt Ltd also figure in the list.
RBI has not disclosed company-specific reasons for each cancellation. The central bank's notification merely states that the certificates were cancelled in exercise of powers conferred under Section 45-IA(6) of the RBI Act, 1934.
The 13 NBFCs that surrendered their registrations comprise nine companies from West Bengal, two from Delhi and one each from Punjab and Maharashtra. Entities that voluntarily exited the NBFC business include J Thomas Finance Pvt Ltd, Econ-Super Sales Pvt Ltd, Hitesha Finance and Investment Ltd, Tinnevelly Tuticorin Investments Ltd, Carnex Vinimay Pvt Ltd and Impact Leasing Pvt Ltd.
Caspian Impact Investments Pvt Ltd, Hari Darshan Sales Pvt Ltd, Ivory Consultants Pvt Ltd, SKA Consultancy Services Pvt Ltd and Trishita Management Ltd ceased to exist as a legal entity due to amalgamation, merger, dissolution or voluntary strike-off, leading to the cancellation of its CoR.
The registration of Forerunner Capital Investments Ltd was also surrendered its CoR after qualifying as an unregistered core investment company that does not require RBI registration.
Over the past few years, RBI has intensified its supervisory oversight of NBFCs to ensure that only entities that meet prudential, governance, and operational standards remain in the sector.
The central bank has repeatedly emphasised that holding an NBFC registration is contingent upon continuous compliance with regulatory requirements and that any relief obtained through judicial or appellate proceedings does not dilute an entity's obligation to comply with applicable laws and RBI directions.
