The Reserve Bank of India (RBI) on Tuesday stated that nine Non-Banking Financial Companies (NBFCs) have surrendered their Certificates of Registration (CoR).
The RBI, exercising its authority under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has officially canceled their CoRs. The cancellations have been categorsed based on the reasons for surrender.
Companies have surrendered their licenses, citing various reasons-
Exit from Non-Banking Financial Institution Business
Five companies have exited the Non-Banking Financial Institution (NBFI) business: Vigfin Holdings Private Limited, Strip Commodeal Pvt Ltd, Allium Finance Private Limited, Eternite Finvest Private Limited, and Fino Finance Private Limited.
Meeting Criteria for Unregistered Core Investment Company
Three companies have met the criteria prescribed for unregistered Core Investment Companies (CIC) that do not require registration: Allegro Holdings Private Limited, Temple Trees Impex and Investment Private Limited, and Hem Financial Services Private Limited.
Ceasing to Be a Legal Entity
One company, Ujjivan Financial Services Limited, has ceased to be a legal entity due to amalgamation, merger, dissolution, or voluntary strike-off.
