The Reserve Bank of India (RBI) has announced that a total of 15 Non-Banking Financial Companies (NBFCs) have voluntarily surrendered their certificates of registration, as per the provisions outlined in Section 45-IA (6) of the Reserve Bank of India Act, 1934.
Among these entities, nine NBFCs have effectively ceased to exist as legal entities due to a variety of reasons, including amalgamation, merger, dissolution, or voluntary strike-off. Notable among these are Tata Capital Financial Services, Tata Cleantech Capital, Naperol Investments, USG Financial Services, Urja Capital, Vandana Dealers, ABRN Finance, Jodhani Management, and JDS Securities.
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Additionally, the RBI revealed that six NBFCs opted to surrender their certificates of registration subsequent to their departure from the Non-Banking Financial Institution (NBFI) sector. These entities include Vian Growth Capital, Drap Leasing and Finance, Jewel Strips, Revolving Investments, Anshu Leasing, and A V B Finance.
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The RBI, exercising its authority, has consequently cancelled the Certificates of Registration (CoR) of these NBFCs. This action underscores the regulatory measures taken by the RBI to ensure compliance and stability within the financial sector. It reflects a proactive approach in regulating the operations of NBFCs, thereby safeguarding the interests of stakeholders and maintaining the integrity of the financial system.
