RBI cancels registration of four NBFCs, 11 surrender certificates
The Reserve Bank of India (RBI) Thursday said it has cancelled the certification of registration of four non-banking finance companies (NBFC) two from Telangana and one each from Kerala and Uttar Pradesh. And the entities will not transact the business of a shadow bank, as defined under RBI Act, 1934.
Separately, four NBFCs surrendered their registration certificates following a decision to exit from the non-banking finance business. Three NBFCs ceased operations following corporate actions such as amalgamation, dissolution, merger or voluntary strike-off.
The remaining four NBFCs have surrendered their registration certificates because they do not require registration under the criteria prescribed for an unregistered core investment company (CIC), the central bank said in a release. Those NBFCs whose registration has been cancelled by the Reserve Bank include Kerala- based Nanma Chits and Financiers Ltd, Uttar Pradesh based Kailash Auto Finance Ltd and Chidrupi Financial Services Ltd and Goldline Financial Services Ltd from Telangana, the central bank said in a release.
Those NBFCs whose surrendered their registration certificates due to exit from non-banking financial institution business include Sanapala Holdings Private Limited from Andhra Pradesh, Samrudhi Finance and Investments Private Limited from Telangana, SC Dani Research Foundation Private Limited and De Lage Landen Financial Services Private Limited from Maharashtra. Four NBFCs surrendered their registration certificates to the apex bavk due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that do not require registration. The NBFCs include: Jamshedpur Securities Limited from Jamshedpur (Jharkhand), Azorius Holdings
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