Reserve Bank of India (RBI) has cancelled the certificates of registration (CoR) of 36 non-banking financial companies (NBFCs) and accepted the surrender of registration by nine others. These exits occurred for several reasons, including voluntary discontinuation of business, meeting the criteria for unregistered core investment companies (CICs) that are exempt from registration, and companies ceasing to exist due to amalgamation, merger, dissolution or voluntary strike-off.
Among the entities whose registrations were cancelled are several companies from West Bengal, including: Excellence Broking & Finance Pvt Ltd, Jibralter Traders Ltd, Nilima Enterprises Pvt Ltd, Welplan Distributors Pvt Ltd, Westport Export Pvt Ltd, Adarsh Commercial Pvt Ltd, Bihariji Securities Pvt Ltd, Bimco Enterprises Pvt Ltd, Critcare Marketing Pvt Ltd, Purvanchal Leasing Ltd, Ziwani Barter Pvt Ltd, Abhani Securities Pvt Ltd and Cindy Goods & Supply Pvt Ltd.
The list also includes: Clarionet Tracon Pvt Ltd, Crawford Plantations Pvt Ltd, Giri Financial Services Pvt Ltd, Piyush Mercantile Pvt Ltd, Bahubali Leasing Ltd, Brajanand Ispat Udyog Pvt Ltd, Dewpoint Agencies Pvt Ltd, Harrison Trexim Pvt Ltd, Lemos Syntex Pvt Ltd, Pratush Consultants Pvt Ltd and Indus Life Finance & Securities Pvt Ltd, all based in West Bengal.
Other West Bengal-based companies whose registrations have been cancelled are: Kotyark Distributors Pvt Ltd, Pacific Management Pvt Ltd, Ridhi Sidhi Sales Agencies Pvt Ltd, Sandhu Auto Deposits Ltd, Sanmin Impex Pvt Ltd, Sarita Computers Pvt Ltd, Subh Chintak Commotrade Pvt Ltd, Veronia TieUp Pvt Ltd, Viconic Merchants Pvt Ltd, Vikram Properties and Merchandise Pvt Ltd and Wintech Telecom Pvt Ltd. Additionally, Viksit Trexim Pvt Ltd from New Delhi is also included in the list.
RBI has not provided specific reasons for the cancellation of these registrations. In its statement, the central bank says that, “in the exercise of powers conferred on it under Section 45-IA (6) of the RBI Act, 1934, it has cancelled the certificate of registration.” Consequently, these companies are no longer permitted to conduct the business of a non-banking financial institution (NBFI), as defined under clause (a) of Section 45-I of the RBI Act.
Separately, nine NBFCs have surrendered their certificates of registration. These include five NBFCs from Maharashtra and two each from West Bengal and Gujarat.
According to RBI, three companies surrendered their registration after deciding to exit the NBFC business. One company gave up its registration after meeting the criteria for an unregistered core investment company (CIC), which does not require RBI registration. The remaining five companies surrendered their certificates because they ceased to exist as legal entities following amalgamation, merger, dissolution or voluntary strike-off.
Among the Maharashtra-based companies, Hanuman Forging & Engineering Pvt Ltd and Upwards Capital Pvt Ltd surrendered their certificates of registration and RBI cancelled their registrations on 23 February 2026. Another company from Maharashtra, Samuk Holding Pvt Ltd, also surrendered its registration which RBI cancelled on 25 February 2026.
RBI also cancelled the registration certificates of Manglam Vanijya Private Ltd and KKR India Asset Finance Pvt Ltd, both based in Maharashtra, after they decided to exit the NBFC business and surrender their registrations.
From West Bengal, Mechno Sales Agencies Pvt Ltd and Premier Ferro Alloys & Securities Ltd surrendered their registration certificates, which were cancelled by the RBI on 26 February 2026 and 16 February 2026, respectively.
In Gujarat, Unicon Suppliers Pvt Ltd and Atreyi Vincom Pvt Ltd also surrendered their certificates of registration, and RBI issued orders cancelling their registrations on 13 February 2026.
