Reserve Bank of India (RBI) Cancels Registration of 5 NBFCs as 8 Others Surrender Licences

Key facts

• The Reserve Bank of India (RBI) cancelled the certificates of registration of five non-banking financial companies (NBFCs): Dar's Financial Services, Rolta Holding and Finance Corporation, Vasudeo Securities, Parsoli Corporation and A C Choksi Financial Services.
• Eight NBFCs surrendered their registrations for various reasons, including Anupam Mercantile, Grand Motor and Finance, Sky Limit International Finance and ASA International India Microfinance, which exited the Non-Banking Financial Institution (NBFI) business.
• Shivam Securities Pvt Ltd and April Investment and Finance Pvt Ltd surrendered their licences after ceasing to be legal entities due to amalgamation, merger, dissolution or voluntary strike-off.
• Anagram Industries surrendered its licence after meeting the criteria for an unregistered Core Investment Company (CIC) that does not require registration.
• CDN Finance surrendered its licence after meeting the criteria for an unregistered Type I NBFC that does not require registration.