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RBI cancels registrations of 150 NBFCs
RBI cancels registrations of 150 NBFCs; 7 others surrender licences
The Reserve Bank of India has cancelled the Certificates of Registration (CoR) of 150 non-banking financial companies (NBFCs) under Section 45-IA (6) of the RBI Act, 1934, barring them from carrying out non-banking financial institution business.
In separate notifications issued this week, the central bank also cancelled the registrations of seven additional NBFCs after they surrendered their licences, while restoring the registration of one Jaipur-based NBFC following appellate and court orders.
The RBI said the 150 entities whose registrations were cancelled “shall not transact the business of a Non-Banking Financial Institution”, as defined under the RBI Act.
Most of the affected companies were registered in West Bengal and Delhi, though firms from states including Telangana, Karnataka, Tamil Nadu, Bihar, Haryana, Madhya Pradesh and Rajasthan also featured in the list.
Among the entities whose registrations were cancelled were Kolkata-based firms such as Akin Vincom, Admire Vinimay, Blue Diamond Securities & Finance and Taurus Ispat Private, along with Delhi-based companies including Goal Securities and Credits, MR Fincap Private and Paras Fincap.
Separately, the RBI said seven NBFCs surrendered their CoR voluntarily. Four companies exited the non-banking financial institution business, including Ashoka Viniyoga and Guru Kirpa Finvest.
Two firms — R R Holdings Private Limited and Anjali Capfin Private Limited — ceased to require RBI registration after meeting the criteria for unregistered Core Investment Companies (CICs), the central bank said.
The RBI also cancelled the CoR of Hdfc Holdings Limited after the company ceased to exist as a legal entity following amalgamation, merger, dissolution or voluntary strike-off, according to the notification.
In another release, the central bank restored the CoR of Jaipur-based Krishna Capfin, after considering orders passed by appellate authorities and courts. The RBI directed the company to comply with all applicable provisions of the RBI Act and regulatory reporting requirements going forward.
Source: Msn.com
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