As many as nine non-banking finance companies (NBFCs) have voluntarily surrendered their registration certificates to Reserve Bank of India (RBI). At the same time, the central bank has cancelled the registrations of 31 NBFCs, while registrations of two companies have been restored. The exits of these NBFCs are due to various reasons, including voluntary discontinuation of business, qualifying as unregistered core investment companies (CICs) that are exempt from registration, or ceasing to exist as legal entities following amalgamation, merger, dissolution, or voluntary strike-off, RBI says.
Those whose registration has been cancelled by RBI include Maharashtra-based Zenith Capitals Ltd (also known as SVL Capitals Ltd), Swift Finlease (India) Ltd, Transcon Research and Infotech Ltd, Kankaria Motor Finance Pvt Ltd, Jasper Investments Ltd, Mahaamba Investments Ltd, Puneet Capital Services Ltd, Shirar Investment and Finance Pvt Ltd, and Shirish Holding and Finance Pvt Ltd.
The list from Maharashtra also features Sahayog Microfinance Ltd, Rajkosh Capital Pvt Ltd (also known as Sawaj Marketing & Financial Services Pvt Ltd), Safal Investment Ltd, Action Financial Services (India) Ltd, Anfin Investments Pvt Ltd, Atirupa Investment Pvt Ltd, Baid Financial Services Ltd, Beautiful Securities Ltd, Better Value Leasing and Finance Ltd, Blue Chip Financial Services Pvt Ltd, and C Mahendra Capital Ltd (also known as C Mahendra Capital Pvt Ltd).
Other entities from Maharashtra whose registrations were cancelled are Credit Sudhaar Finance Pvt Ltd, Dani Financial Products Pvt Ltd (also known as Dani & Merchants Financial Products & Services India Ltd), Dhenu Buildcon Infra Ltd (also known as The Hingir-Rampur Coal Co Ltd), Earth Global Finance Pvt Ltd, Effingo Textile & Trading Ltd (also known as Malti Textile Mills Ltd), and Ralchem Ltd (also known as Fashutana Investments Ltd or Ralchem Pesticides Ltd).
From West Bengal, the cancelled entities are Kamsco Industries Pvt Ltd, Pharma Trading Co Pvt Ltd, and Reliable Housing and Finance India Ltd (also known as Kali Housing & Finance Ltd). From other states, Gujarat-based Keen Investment and Leasing Ltd and Telangana-based Swarnajyothi Agrotech & Power Ltd (also known as Prarambh Finance & Leasing Ltd) are also among those whose registrations have been cancelled.
RBI has not given any specific reason for the cancellation. Its statement merely says, "...in the exercise of powers conferred on it under section 45-IA (6) of the RBI Act, 1934, has cancelled the certificate of registration...As such, the above companies shall not transact the business of a non-banking financial institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act."
The nine NBFCs that have surrendered their registration include four from West Bengal and one each from Maharashtra, Goa, Karnataka, Delhi and Gujarat.
According to RBI three NBFCs surrendered their registration certificates after deciding to exit the NBFC business. One NBFC surrendered its certificate after meeting the criteria for an unregistered CIC, which does not require registration. Additionally, five NBFCs gave up their certificates as they ceased to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
West Bengal-based Far East Software Services Pvt Ltd and Shraddha Vyapaar Pvt Ltd surrendered their registration certificate. RBI issued an order to cancel their registration on 11 July 2025 and 15 July 2025, respectively.
RBI says the registration certificates of West Bengal-based Janki Textile and Industries Pvt Ltd and Kasturi Enclave Pvt Ltd have been cancelled as these entities decided to exit the business and surrender their registration to RBI on 26 August 2025.
The central bank issued another order to cancel the registration certificates of Maharashtra-based Ashok Construction & Investment Company Pvt Ltd and Goa-based Smartlink Holdings Ltd.
Aditya Birla Finance Limited have surrendered its registration certificate, and RBI has issued an order to cancel its registration on 5 August 2025.
Further, Karnataka-based PhonePe Technology Services Pvt Ltd surrendered its NBFC account aggregator (AA) registration certificate after deciding to exit from the non-banking financial institution (NBFI) business. Delhi-based PL Finlease Pvt Ltd also surrendered its registration certificates. RBI has issued an order to cancel their registrations on 26 August 2025 and 31 July 2025, respectively.
Meanwhile, RBI has restored the registrations of two NBFCs following orders passed by the Appellate Authority and Courts. These are RBG Leasing and Credit Pvt Ltd, based in Delhi, whose registration was restored on 4 August 2025, and Yashila Investment and Finance Company Pvt Ltd, based in Maharashtra, restored on 28 August 2025. RBI has advised both companies to strictly comply with the provisions of the RBI Act, 1934, and adhere to all guidelines and reporting requirements issued by the central bank.
