The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the RBI Act, 1934, has cancelled the CoR of the concerned 6 NBFCs and 2 HFCs
FinTech BizNews Service
Mumbai, November 10, 2023: The Reserve Bank of India, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has cancelled the Certificate of Registration of the following companies.
Todays Holdings Private Limited, New Delhi and Integrated Finance Company, Chennai, Tamilnadu. As such, the above companies shall not transact the business of a Non-Banking Financial Institution, as defined in clause (a) of Section 45-I of the RBI Act, 1934.
4 NBFCs and 2 HFCs surrender their Certificate of Registration to RBI
The following 4 Non-Banking Financial Companies (NBFC) have surrendered the Certificate of Registration (CoR) granted to them by the Reserve Bank of India (RBI). The RBI, in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled their CoR.
i) Due to exit from Non-Banking Financial Institution (NBFI) business:
1 Ford Credit India Private Limited, Chennai, Tamilnadu
2 Acoustic Commercial Pvt. Ltd, Jaipur, Rajasthan.
ii) Due to meeting the criteria prescribed for unregistered Core Investment Company (CIC) that does not require registration:
VSG Trade Pvt Ltd, Jorhat, Assam.
iii) Due to NBFC ceasing to be a legal entity after amalgamation/merger/dissolution/ voluntary strike-off, etc.
1 Centrum Microcredit Limited, Mumbai, Maharashtra.
Further, the following Housing Finance Companies (HFC) have surrendered the Certificate of Registration (CoR) granted by National Housing Bank. The RBI, in exercise of powers conferred on it under Section 29A of National Housing Bank Act, 1987, has therefore cancelled their CoR.
iv) Due to exit from Housing Finance Institution business:
1 National Trust Housing Finance Limited, Chennai, Tamilnadu
v) Due to HFC ceasing to be a legal entity after amalgamation/merger/dissolution/ voluntary strike-off, etc.:
1 Housing Development Finance Corporation Limited, Mumbai, Maharashtra.
