In a set of regulatory disclosures, the central bank says the registrations of 35 NBFCs are cancelled for non-compliance with regulatory requirements, including failure to meet conditions subject to which registration was granted and cessation of NBFC business. Separately, 16 NBFCs surrendered their CoR, following which RBI cancelled their licences under the provisions of the RBI Act, 1934.
At the same time, RBI announced that it has restored the registration of Social Leasing India Ltd, an NBFC based in Dehradun, Uttarakhand. The restoration was carried out after considering orders passed by the appellate authority and courts, the central bank says.
RBI says the cancelled NBFCs are largely concentrated in Delhi and the National Capital Region (NCR), with only one company based outside the region. These include firms such as: AG Securities, ALB Leasing & Finance, ATM Credit & Investments, Corporate Capital Services India, Decisive Finance, Divine Investments, Liberty Sales, Pearls Hire Purchase Corporation, Quasar India Fincap, Sunlife Securities, Sunrise Manufacturing Co, Swito Finance & Estates, Triveni Vinimay, Twenty First Century Marketing, Unitron Finlease, Veera Securities and Finlease, Vini Financial and Management Consultants, Adhinath Investments, Agroha Savings, Ahusons Finance and Investments, Altar Investment, Associated Leasing, Atlantic Leasing, B H L Forex and Finlease, Bharatpuria Finance and Investment, Dada Dev Finance & Leasing, East Delhi Leasing, Economic Capital Services India, ESN Finance and Capital Services, FMI Investments, Ganpati Fincap Services, Goodworth Securities and Gopal Overseas.
Outside Delhi, one NBFC Shivom Investment & Consultancy Ltd is registered in Mumbai. Another entity, Satya Prakash Capital Investment Ltd, operates out of Jabalpur in Madhya Pradesh.
According to RBI, NBFCs whose registrations are cancelled due to exit from non-banking financial institution (NBFI) business are spread across several major cities. In Mumbai, the affected entities include Dharmesh Stock Broking Private Ltd and Park Avenue Engineering Ltd. Kolkata accounts for a significant share in this category, with Millennium Holdings Pvt Ltd and Celestial Consultants Pvt Ltd operating from the Chatterjee International Centre and Peerless Financial Services Ltd registered at Esplanade East. In Chennai, Damayanti Finance & Properties Pvt Ltd is registered in the Sowcarpet area. Delhi features two entities in this category, Liquid Paper Finserve Pvt Ltd, based in Pitampura, and Arvind Overseas Project Services Pvt Ltd, located in Connaught Place.
Separately, RBI cancelled registrations of NBFCs that are found to meet the criteria prescribed for unregistered core investment companies (CICs), which do not require registration. These include: Shyam Basic Infrastructure Projects Pvt Ltd, registered in Jaipur; Shruti Finsec Pvt Ltd, based in Kanpur and Sita Investment Company Ltd, operating from Raipur in Chhattisgarh.
In another category, RBI says certain NBFCs ceased to be legal entities due to amalgamation, merger, dissolution or voluntary strike-off, leading to cancellation of their registrations. In Mumbai, this included: Edelweiss Retail Finance Ltd. Kolkata accounts for the remaining entities in this category, with Super Commodities Pvt Ltd, Silfix Tradelink Pvt Ltd, Sakthi Traders Pvt Ltd and Yaduka Financial Services Ltd.
RBI says these cancellations are carried out in accordance with the provisions of the RBI Act, 1934, and reflect changes in business status, regulatory classification or legal existence of the entities concerned.
While allowing the reinstatement, RBI advised Social Leasing India to strictly adhere to all applicable provisions of the RBI Act, 1934 and comply with the guidelines and directions issued by the regulator from time to time. The central bank also stressed the importance of meeting all reporting and supervisory requirements.
RBI did not disclose the specific reasons for the earlier cancellation of Social Leasing India’s registration, nor the detailed grounds on which the appellate or judicial authorities ruled in its favour.
Over the past few years, the central bank has stepped up supervisory scrutiny to ensure that only entities meeting prudential norms, governance standards and operational requirements are permitted to function as NBFCs.
RBI has repeatedly clarified that holding a registration certificate is subject to continuous compliance, and that regulatory relief granted through appellate or judicial processes does not dilute the obligation of NBFCs to follow the law and regulatory directions in letter and spirit.
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