RBI Cancels CoR for 13 NBFCs as Companies Exit Business or Amalgamate Structures
The Reserve Bank of India (RBI) has exercised its powers under Section 45IA (6) of the RBI Act, 1934, to cancel the Certificate of Registration (CoR) for thirteen Non-Banking Financial Companies (NBFCs). These cancellations stem from various operational changes across the sector, including exits from NBFI business, structural alterations, and meeting criteria for unregistered entities.Cancellation Due to Exit from NBFI Business
The RBI has canceled the CoR for five companies that have ceased operations or exited the Non-Banking Financial Institution (NBFI) business. These cancellations span various years, with some registrations dating back to 1998. Companies affected include J. Thomas Finance Pvt. Ltd., Econ-Super Sales Pvt Ltd, and Hitesha Finance and Investment Limited.Tinnevelly Tuticorin Investments Ltd., which held a CoR since May 4, 1998, was among those affected by the cancellation, effective May 18, 2026. The RBI noted these changes in accordance with regulatory oversight requirements for NBFC status.
Structural Changes and Entity Cessations
A significant portion of the cancellations—six companies—were issued due to the NBFC ceasing its legal entity status. This includes instances such as amalgamation, merger, dissolution, or voluntary strike-off. These entities include Caspian Impact Investments Private Limited and Hari Darshan Sales Private Limited.Other companies that underwent structural changes whose CoR was cancelled include Ivory Consultants Private Limited and Trishita Management Limited. The RBI processed these cancellations in adherence to the company's evolving legal status.
NBFC Meeting Unregistered Core Investment Company Criteria
One company, Forerunner Capital Investments Limited, saw its Certificate of Registration (CoR) canceled by the RBI. This action was taken as the company met specific criteria prescribed for an unregistered Core Investment Company (CIC). The CoR issued to this entity was cancelled on May 20, 2026, marking a structural reclassification from NBFC status.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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