16 NBFCs Registration Cancelled; 10 Others Surrender Certificates to RBI
Moneylife Digital Team 13 August 2025
As many as 10 non-banking finance companies (NBFCs) have surrendered their registration certificates to Reserve Bank of India (RBI), while the regulator cancelled the registration of 16 NBFCs. 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 Wadhawan Global Capital Ltd, Praptee Savings and Investment (India) Ltd, Sharmistha Investments Pvt Ltd, Softfin Investments Pvt Ltd, Tele Link Securities and Finance Ltd, Tyche Securities Pvt Ltd, Bharat Monetary Services Pvt Ltd (also known as Bharat Udyog Ltd), Geopreneur Fincorp Pvt Ltd, Indo-Euro Investments Company Ltd, Investrick Securities (India) Pvt Ltd, and Jem Fiscal Limited (also known as Jem Fiscal Pvt Ltd).
 
Other entities from Maharashtra include: Karvirvasini Investments and Finance Pvt Ltd, Kaundinya Investment and Finance Pvt Ltd, Silver Golden Property Develop Fin Investment Ltd (also known as VAB Ventures Ltd). Kerala-based Geopreneur Fincorp Pvt Ltd and Gujarat-based Simplex Trading and Agencies Ltd are also in the list of entities whose registration is cancelled by the central bank.
 
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 10 NBFCs that have surrendered their registration include five from Maharashtra, two from New Delhi and one each from Uttar Pradesh, Himachal Pradesh and Haryana.
 
According to RBI, six 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, three NBFCs gave up their certificates as they ceased to be legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.
 
Maharashtra-based Poonawalla Investments and Industries Pvt Ltd and Zenith Securities and Investment Ltd surrendered their registration certificate. RBI issued an order to cancel their registration on 9 July 2025 and 17 July 2025, respectively.
 
RBI says the registration certificates of Maharashtra-based Swastik Safe Deposit and Investments Ltd, Mango Finance (India) Pvt Ltd and Macrofil Investments Ltd have been cancelled as these entities decided to exit the business and surrender their registration to RBI.
 
The central bank issued another order to cancel the registration certificates of New Delhi-based Kansal Fincap Ltd and India Finsec Ltd.
 
Satram Leasing and Finance Ltd have surrendered its registration certificate, and RBI has issued an order to cancel its registration on 28 July 2025 
 
Further, Haryana-based GMR Airports Ltd and Himachal Pradesh-based Maya Fincap Pvt Ltd also surrendered their registration certificates. RBI issued an order for the cancellation of its registration on 10 July 2025.
 
Comments
Free Helpline
Legal Credit
Feedback