The Reserve Bank of India (RBI) has cancelled the Certificates of Registration (CoRs) of 13 Non-Banking Financial Companies (NBFCs), according to an official press release issued on Friday. As reported by ANI, the central bank exercised its powers under Section 45-IA (6) of the Reserve Bank of India Act, 1934 to take this regulatory action. The latest data confirms that the 13 NBFCs whose registration has been cancelled include Nakodar Finance Pvt Ltd, Ajitnath Steels Pvt Ltd (listed as Augment Finvest Pvt Ltd by the Union ministry of corporate affairs), Astrol Dealcom Pvt Ltd, Bhagyashri Trading Pvt Ltd, Britex Financial Services Pvt Ltd, Sajili Vinimay Pvt Ltd, Bhumika Fiscal Services Private Limited, Blue Mount Exports Pvt Ltd, Delta Capital Market Ltd, Rajesh Fiscal Services Private Ltd, Sarla Finance Pvt Ltd, Shreyans Vyapaar (P) Ltd (listed as Shreyans Vyapaar Pvt Ltd by MCA), and Booh Finance Company Pvt Ltd. Of these, eleven are based in West Bengal and two in Tamil Nadu, as reported by RBI. The cancellation orders were issued on various dates in September 2026, according to ANI.
The cancellation affects 11 NBFCs registered in West Bengal, representing a significant portion of the total cancellations. According to the RBI press release, this geographic concentration suggests potential regional compliance issues or regulatory concerns specific to the West Bengal market. The two Tamil Nadu-based companies are Nakodar Finance Pvt Ltd and Booh Finance Company Pvt Ltd. The West Bengal-based companies include Ajitnath Steels Pvt Ltd (listed as Augment Finvest Pvt Ltd by the Union ministry of corporate affairs), Astrol Dealcom Pvt Ltd, Bhagyashri Trading Pvt Ltd, Britex Financial Services Pvt Ltd, Sajili Vinimay Pvt Ltd, Bhumika Fiscal Services Private Limited, Blue Mount Exports Pvt Ltd, Delta Capital Market Ltd, Rajesh Fiscal Services Private Ltd, Sarla Finance Pvt Ltd, Shreyans Vyapaar (P) Ltd (listed as Shreyans Vyapaar Pvt Ltd by MCA), as confirmed by RBI.
The cancellation bars the affected NBFCs from carrying out non-banking financial business, effectively suspending their operations in the financial services sector. As reported by ANI, the central bank has clarified that the 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'. This regulatory action represents a significant enforcement measure by the central bank against companies that failed to meet required compliance standards. Consequently, these companies are no longer permitted to conduct the business of a non-banking financial institution (NBFI), according to RBI.
Simultaneously, 10 NBFCs have surrendered their licences for various reasons, according to RBI. The companies that surrendered their licences include Pragati Fincap Limited, Rajlakmi Vanijya Pvt Ltd, Vivriti Capital Limited (listed as Vivriti Finance Ltd in the records of MCA), MSJ Colonising and Leasing Company Pvt Ltd, PKSL Investment Pvt Ltd and HCL Corporation Pvt Ltd. Among the entities that exited the NBFC business and surrendered their certificates of registration are three from New Delhi, two each from Tamil Nadu and West Bengal, and one each from Assam, Madhya Pradesh and Maharashtra. Additionally, PCR Investments Ltd surrendered its CoR after qualifying as an unregistered core investment company (CIC), which is not required to be registered with the RBI, and Aparna Investment Pvt Ltd surrendered its CoR after meeting the criteria prescribed for an unregistered Type I NBFC, which is also exempt from registration. Two West Bengal-based companies, Vandana Griha Nirman Ltd and Ramsisaria Builders Ltd, ceased to exist as legal entities following events such as amalgamation, merger, dissolution or voluntary strike-off. The RBI has cancelled the surrendered certificates under Section 45-IA (6) of the RBI Act, 1934.
The RBI's action was taken 'in exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934', according to the official statement. This provision grants the central bank specific authority to cancel registrations when companies fail to comply with regulatory requirements or pose risks to the financial system. The central bank has reiterated that holding a registration certificate is subject to continuous compliance, and that any regulatory relief obtained through appellate or judicial processes does not dilute NBFCs' obligation to adhere to the law and regulatory directions in both letter and spirit. RBI has not provided specific reasons for the cancellation of these registrations, maintaining that the regulatory action was taken under the prescribed legal framework.
