10 NBFCs' Registration Cancelled, 7 Others Surrender Certificates to RBI
Moneylife Digital Team 21 July 2025
As many as seven non-banking finance companies (NBFCs) have voluntarily surrendered their registration certificates to the Reserve Bank of India (RBI), while the central bank has cancelled the registrations of 10 NBFCs from Maharashtra. The reasons for these exits include voluntary discontinuation of business, meeting the criteria for unregistered core investment companies (CICs) that are exempt from registration and ceasing to exist as legal entities due to amalgamation, merger, dissolution, or voluntary strike-off. 
 
Those whose registration has been cancelled by RBI include: Maharashtra-based Paridhi Trading Company Pvt Ltd, Progressive Securities Pvt Ltd, Sanwa Finance Private Ltd, Sunflex Finance and Investments Ltd, Tirupati Holdings Ltd, Vasant Sanghavi Securities Pvt Ltd, Vivid Finance and Holdings Pvt Ltd, Variety Investments Pvt Ltd, Sam Tul Investments Ltd and Shreeramanjaneya Leasing and Finance Pvt Ltd.
 
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 seven NBFCs who have surrendered their registration include two each from Maharashtra and New Delhi and one each from Madhya Pradesh (MP), Tamil Nadu and Karnataka.
 
According to RBI, four 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, two NBFCs gave up their certificates as they ceased to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
 
Maharashtra-based Strategic Capital Corporation Pvt Ltd and Alcom Investment Pvt Ltd surrendered their registration certificate. RBI issued an order to cancel their registration on 6 June 2025 and 9 June 2025, respectively.
 
RBI says the registration certificates of New Delhi-based Manglam Securities Ltd and Mehrotra Invofin India Pvt Ltd are cancelled from 12 June 2025 and 17 June 2025, respectively 
 
The central bank issued another order for cancelling the registration certificate of MP-based Samruddhi Swastik Trading and Investments Ltd.
 
Anam Finance Private Ltd (now known as Anam Commercial Business Pvt Ltd ) from Tamil Nadu and Tarish Investment and Trading Company Pvt Ltd from Karnataka have surrendered their registration certificate, and RBI has issued an order to cancel their registration on 13 June 2025 and 24 June 2025, respectively.
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