RBI cancels registration of five NBFCs

The Reserve Bank of India (RBI) on Thursday said it has cancelled the certificate of registration of five non-banking finance companies (NBFCs), according to a release. Separately, the central bank said eight NBFCs have surrendered their licences due to various reasons, including exit from Non-Banking Financial Institution (NBFI) business.

The RBI has cancelled the licence of Dar’s Financial Services, Rolta Holding and Finance Corporation, Vasudeo Securities, Parsoli Corporation, and A C Choksi Financial Services, as per the release. Further, Anupam Mercantile, Grand Motor and Finance, Sky Limit International Finance, and ASA International India Microfinance have surrendered their licence due to exit from NBFI business. Shivam Securities Pvt Ltd and April Investment and Finance Pvt Ltd have surrendered their licence as they ceased to be a legal entity due to amalgamation/ merger/dissolution/ voluntary strike-off, the RBI said.

Anagram Industries surrendered the licence due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that does not require registration, while CDN Finance surrendered it due to meeting the criteria prescribed for Unregistered Type I NBFCs that do not require registration, the release said.