The reasons for these actions include companies exiting the NBFC business, being classified as unregistered core investment companies (CICs) that do not require registration, or ceasing to exist as legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
In two separate releases, RBI stated that the registrations of 150 NBFCs were cancelled for non-compliance with regulatory requirements. These include failure to meet the conditions under which registration was granted and cessation of NBFC operations. Separately, the 7 NBFCs that surrendered their CoR had their licences cancelled under the provisions of the RBI Act, 1934.
Among those whose registrations have been cancelled are: Basera Nirman Pvt Ltd and HBC Finance and Leasing Ltd from Telangana, Classic Securities Pvt Ltd and IND Corp Securities Ltd from Haryana, Advantage Equi Fund Pvt Ltd from Madhya Pradesh, Abhishek Capital Services Pvt Ltd from Bihar, Astute Finance Pvt Ltd from Tamil Nadu and Kallarakkal Fincorp Pvt Ltd from Karnataka.
The list of cancelled registrations also includes several West Bengal-based companies, such as Abir Traders Pvt Ltd, Admire Vinimay Pvt Ltd, A.D. And Associates Finance Pvt Ltd , Sheily Fiscal Services Pvt Ltd, Sukanya Trading & Finance Pvt Ltd, Akansha Credit Capital Pvt Ltd, ANP Investments Ltd, Akin Tracom Pvt Ltd, Akriti Developers Pvt Ltd, Anima Mercantile Pvt Ltd, Anjali Credit Pvt Ltd, Anushree Vikash Ltd, Arena Textiles And Industries Ltd, Arnica Financial Consultants Pvt Ltd, Artlink Vintrade Ltd, Arulaga Roche A.C.A. Finance Pvt Ltd, Asharam Leasing & Finance Pvt Ltd, Aspective Commercial Pvt Ltd, Astonish Financers Pvt Ltd, Avon Distributors (India) Pvt Ltd, Bengal Exim Scrips Pvt Ltd, Allied Marketing Pvt Ltd, Amber Fincorp Pvt Ltd, Amit Commercial Co Ltd, Ankleswar Management Pvt Ltd, Asha Advertising & Marketing Company Pvt Ltd, Atindra Projects Private Ltd, B.N. Securities Ltd, Balaji Finvest Pvt Ltd, Baliraja Distributors Pvt Ltd, Balsam Commercial Pvt Ltd, Bandana Sangeet Paper Pvt Ltd, Bee Impex & Holdings Pvt Ltd, Believe Commodities Pvt Ltd, Billbody Vyapaar Pvt Ltd, Bircort Vincom Pvt Ltd, Blue Bird Commercial Ltd, Blue Diamond Securities & Finance Ltd, Blue Print Securities Ltd and Blue Ring Commercial Pvt Ltd.
Other West Bengal-based entities include Bortix Dealcom Pvt Ltd, Hemnidhi Securities Ltd, Brajdham Mercantile Pvt Ltd, Bright Impex & Agencies Pvt Ltd, Carelink Vyapaar Pvt Ltd, Carol Barter Pvt Ltd, Cellour Marketing Pvt Ltd, Centuple Securities Pvt Ltd, Chelsea Traders Private Ltd, Chemex Goods Pvt Ltd, Chhatisgarh Biri Patta Pvt Ltd, Classic Resources Ltd, Taurus Ispat Pvt Ltd, S.L. Trades & Finance (India) Pvt Ltd, Colen Vinimoy Pvt Ltd, Carmel Merchants Pvt Ltd, Calypso Tie Up & Finco Pvt Ltd, Bhagwandas Leasing Pvt Ltd, Amol Fabtrade Pvt Ltd, Amarjyoti Vyapaar Ltd, Regis Industries Ltd, D.S. Stocks & Securities Pvt Ltd, Cyrillic Tie-Up Pvt Ltd, Crescent Leasing Ltd, Cordoba Leasing Pvt Ltd, Continental Fiscal Management Ltd, Consumers Point Ltd, Concrete Consultancy Services Pvt Ltd, Daisy Tie-Up Pvt Ltd, Datum Securities Ltd, Devdoot Tradelink Pvt Ltd, Doon Vally Finance And Leasing Ltd, Elite Leasings Ltd, Enfield Tracon Pvt Ltd and Ess Dee Distributors Pvt Ltd.
The New Delhi-based entities whose registrations were cancelled include Akin Vincom Pvt Ltd, Associated Techno Plastic Pvt Ltd, Brahaspati Financiers Ltd, Gaurangi Rath Financial Services Pvt Ltd, Goal Securities and Credits Ltd, Instronics Trading Pvt Ltd, MR Fincap Pvt Ltd, Munshi's Investment and Finance Pvt Ltd, Pasko Leasing Pvt Ltd, Pratiksha Fincap Ltd, Sargodha Securities Ltd, Sita Bhagwat Investments and Finance Ltd, Super Wares Private Ltd, Syndicate Financial Services Pvt Ltd, Tina Fin Lease Pvt Ltd, Virat Finvest Pvt Ltd, Bhawna Portfolio Private Ltd, Divayarth Leasing and Finance Pvt Ltd, A & A Capital Services Pvt Ltd, Aadi Shakti Portfolio & Finlease Pvt Ltd, Alpha Stocks and Finservices Pvt Ltd, Argent Finvest Pvt Ltd, Baba Nanak Financial Services Ltd, Blink Finance Pvt Ltd, C and N Investment Pvt Ltd, Chetana Inlease Pvt Ltd, Credible Credits Pvt Ltd, Compact Leasing and Finance Pvt Ltd, Dalmia Housing Finance Ltd, Esteem Investments Pvt Ltd, Etisha Finance and Investment Pvt Ltd, Finmax Credit & Finance Pvt Ltd, Fortune Portfolio Pvt Ltd, G.D. Capitals Pvt Ltd, Glofin Investment and Finance Company Pvt Ltd, Graceway Investment Ltd, Guchi Investment Pvt Ltd, Ilac Investment Pvt Ltd, Jalco Financial Services Pvt Ltd, Jangi Growth Fund Pvt Ltd and Jar Metal Industries Pvt Ltd.
The New Delhi list further includes Kaar Lea-Finvest Ltd, Kirpal Finance Pvt Ltd, Layman Finance Ltd, Libra Leasing Ltd, Lovely Investment Pvt Ltd, Manjeet Securities and Finlease Ltd, Moon Star Capital Services Pvt Ltd, Nagdevi Growth Fund Pvt Ltd, Nanda Parbat Finlease Ltd, Neelam Growth Fund Pvt Ltd, Nisakar Trade Links Ltd, Ojswi Trades Investment and Finance Ltd, Oval Investment Pvt Ltd, Par Excellence Leasing and Financial Services Pvt Ltd, Paras Fincap Pvt Ltd, Patel Finlease (India) Pvt Ltd, Kingdom Exports International Pvt Ltd, IDC Securities Ltd, Menlo Finance and Investment Corporation Pvt Ltd, Kautilya Shares and Stocks Pvt Ltd, Peak Securities Pvt Ltd, Rishi Growth Fund Pvt Ltd, Shark Packaging (India)Pvt Ltd, Shri Mahavirji Finlease Pvt Ltd, W.L.D. Investments Pvt Ltd and Rexcin Finance Pvt Ltd.
However, RBI has not provided specific reasons for each cancellation. Its statement only notes that, “in exercise of powers conferred under Section 45-IA(6) of the RBI Act, 1934, the certificate of registration has been cancelled.”
Consequently, these companies are no longer permitted to carry on the business of a non-banking financial institution (NBFI), as defined under the Act.
The seven NBFCs that surrendered their registration include entities from across India. Two each from West Bengal and New Delhi and one each from Uttar Pradesh and Maharashtra.
Among those that exited the NBFC business and surrendered their CoR are: Guru Kirpa Finvest Ltd, Gajraj Securities And Services Pvt Ltd, Ashoka Viniyoga Ltd and Purvanchal Investment And Trading Company Pvt Ltd.
In addition, RR Holdings Pvt Ltd and Anjali Capfin Pvt Ltd surrendered their CoR after qualifying as unregistered core investment companies that do not require RBI registration.
HDFC Holdings Ltd ceased to exist as a legal entity due to amalgamation, merger, dissolution or voluntary strike-off, leading to the cancellation of its CoR.
Over the past few years, RBI has stepped up supervisory scrutiny to ensure that only entities that meet prudential norms, governance standards, and operational requirements are allowed to function as NBFCs.
The central bank has also reiterated that holding a registration certificate is subject to continuous compliance, and that any regulatory relief obtained through appellate or judicial processes does not dilute NBFCs' obligation to adhere to the law and regulatory directions in both letter and spirit.
