Industry

Nine NBFCs surrender certificate of registration

Reliance Net and Nischaya Finvest Private Limited among the NBFCs which have surrendered their certificates

Nine NBFCs, including Reliance Net and Nischaya Finvest Private Limited, have surrendered their certificate of registration, the Reserve Bank of India said on Tuesday.

Penrose Mercantiles Ltd, Manohar Finance India Ltd, Chandelier Tracon Pvt Ltd, and Sanghi Hire Purchase Ltd are among the NBFCs which have surrendered their certificates.

The certificate of registration is granted by the RBI.

With surrendering the certificates, the companies cannot transact the business of a non-banking financial institution.

In another statement, the central bank said it has cancelled the certificate of registration of 14 non-banking financial companies (NBFCs).

Primus Capital Private Limited (Formerly known as Rapid Growth Capital Services Private Limited), Bharat Finance and Industries Limited, Signature Finance Private Limited, Dee Bee Leasing and Hire Purchase Pvt Ltd, Jindal Finlease Pvt Ltd, and B L S Investments Pvt Ltd, are among the NBFCs whose certificate of registration were cancelled by the RBI.

A letter from the Editor


Dear reader,

We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. However, we have a request for those who can afford to subscribe: please do. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. We promise to deliver quality journalism that stays away from vested interest and political propaganda.

Support Quality Journalism
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | May 31, 2020 10:34:15 AM | https://www.thehindu.com/business/Industry/nine-nbfcs-surrender-certificate-of-registration/article31622844.ece

Next Story