A total of 13 non-banking finance companies (NBFCs) and one housing finance company (HFC) from Maharashtra have voluntarily surrendered their registration certificates to Reserve Bank of India (RBI). At the same time, RBI has cancelled the registration of 21 other NBFCs from Maharashtra. The reasons for these actions include exiting the business, being classified as unregistered core investment companies (CICs) that do not require registration, or 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 Anand Pvt Ltd, Anand Corporate Holdings Pvt Ltd, Athena Financial Services Ltd, Barter Leasing And Finance Pvt Ltd, Dimples Cine Advertising Pvt Ltd (also known as Dimples Leasing & Finance Ltd), Diwan Sons Holding & Consultancy Pvt Ltd, Elegant Capital Private Ltd, Fax Computers and Finance Services Pvt Ltd, Panchasar Leasing and Investment Ltd, and Monotona Securities Ltd (also known as Champion Finsec Ltd).
Other companies include Morta Finlease and Investments Pvt Ltd, Ottoman Finlease and Investments Pvt Ltd, Pal Credit & Capital Ltd, Shrenuj Investments and Finance Pvt Ltd, Shyamal Holdings and Trading Ltd, Devi Investments Private Ltd, Dhuleva Finance Pvt Ltd, Shah Financial Services Ltd, Aastha Broadcasting Network Ltd (earlier known as Trimline Investments Co Ltd), Unno Industries Ltd, and Xrbia Financial Services 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 13 NBFCs who have surrendered their registration include four each from New Delhi and West Bengal, two from Karnataka and one each from Maharashtra, Tamil Nadu and Rajasthan.
According to RBI, six NBFCs surrendered their registration certificates following a decision to exit from the non-banking finance business. Seven NBFCs, including the HFC, ceased operations following corporate actions such as amalgamation, dissolution, merger or voluntary strike-off. One NBFC has surrendered its registration certificates because it does not require registration under the criteria prescribed for an unregistered CICs.
APAC Housing Finance Pvt Ltd, an HFC from Maharashtra also surrendered its certificates of registration.
New Delhi-based Pankaj Services Ltd. and Balbros Leasing and Investments Pvt. Ltd. surrendered their registration certificates. The RBI issued orders to cancel their registration on 2 September 2025 and 11 September 2025, respectively.
Ramsons Projects Ltd and Triplerank Marketing Pvt Ltd, also from New Delhi, have had their registration certificates cancelled as of 17 September 2025.
West Bengal-based Manoj Mercantile Credit Pvt Ltd, Mokha Vyapaar Pvt Ltd, Padma Estates Pvt Ltd and Intellectual Securities Pvt Ltd also decided to exit the business and surrender their registration to RBI.
Bachhraj and Company Pvt Ltd, an NBFC from Maharashtra, have surrendered its registration certificate and RBI has issued an order to cancel its registration on 15 September 2025
The central bank issued another order to cancel the registration certificates of Rightfi Capital Pvt Ltd and Yodlee Finsoft Pvt Ltd on 4 September 2025 and 16 September 2025, respectively.
Samunnati Agri Value Chain Solutions Pvt Ltd (also known as Samunnati Financial Intermediation and Services Pvt Ltd) from Tamil Nadu and Srajan Capital Ltd from Rajasthan, have surrendered their registration certificate, and RBI has issued an order to cancel their registration on 3 September2025 and 10 September2025, respectively.
