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The Reserve Bank of India (RBI) cancelled the Certificates of Registration (CoRs) of 13 non-banking financial companies (NBFCs) under section 45-IA(6) of the RBI Act, 1934. Its notice, published January 8, 2019, lists each company and its cancellation date. It does not identify company-specific reasons. The separate claim that 10 NBFCs surrendered licences is not established by the matching RBI notice and should not be treated as confirmed.
What the RBI notice confirms
The RBI announcement was published on January 8, 2019, but the individual CoRs were cancelled earlier, from August 28 through December 14, 2018. The notice says the listed 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.” RBI’s notice is signed by Anirudha D. Jadhav, Assistant Manager.
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The notice records the cancellation action, not the companies’ complete present-day corporate or legal status. It also does not explain why RBI cancelled each registration.
The 13 NBFCs and their cancellation dates
The CoR issue dates below are the dates stated in the RBI notice; they are distinct from the dates on which RBI cancelled the registrations.
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| Company | CoR number | CoR issued | Cancelled |
|---|---|---|---|
| Fast-N-Perfect Commercial Pvt. Ltd. | 05.01135 | March 20, 1998 | November 12, 2018 |
| Anmol Commerce Private Limited | B-05.06666 | November 14, 2006 | November 12, 2018 |
| Mayfair Capital Private Limited | B-14.01402 | March 16, 2012 | November 12, 2018 |
| Dhanvarsha Motor Finance Private Limited | B-05.06804 | May 5, 2009 | August 28, 2018 |
| Vijay Hire Purchase and Leasing Limited | B-09.00248 | February 14, 2011 | November 12, 2018 |
| Diamond Commercial Enterprises Limited | 05.02334 | May 16, 1998 | November 12, 2018 |
| Enpee Finall Services Private Limited | B-05.04739 | February 11, 2003 | November 12, 2018 |
| Rainbow Credit and Securities Private Limited | B-14.02182 | January 4, 2003 | November 12, 2018 |
| DPSE Finance Ltd. | B-14.01031 | June 27, 2000 | December 12, 2018 |
| Napraaj Commercial Private Limited | B-05.06013 | January 22, 2004 | December 14, 2018 |
| Skyline Financial Services Madras Private Limited | B-07.00589 | February 27, 2001 | December 14, 2018 |
| Homfit Finance and Leasing Ltd. (previously Homfit Leasing Limited) | B-16.00069 | July 15, 2010 | December 14, 2018 |
| Sigs Financial Services (India) Private Limited (previously Olarikkara Investments and Hire Purchases Private Limited) | B.16.00118 | March 11, 2011 | December 14, 2018 |
What “10 surrender licences” means—and what is verified
Cancellation and surrender are different actions. In the confirmed notice, RBI cancelled 13 companies’ CoRs under the RBI Act. A surrender would describe a company giving up its registration. The cited notice does not document 10 surrenders, and the separate count is not confirmed by a matching RBI source here. It should not be combined with the 13 cancellations as if both counts came from the same notice.
What the law says about cancellation
Section 45-IA of the RBI Act sets out the registration requirement for NBFC business and grounds on which RBI may cancel a CoR. It also provides for a reasonable opportunity to be heard before cancellation. Under section 45-IA(7), an appeal may be made to the Central Government within 30 days from communication of the cancellation order. That statutory period is background; the 2019 press release does not say that any particular company appealed or specify when an order was communicated. RBI-hosted text of section 45-IA.
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How to check an NBFC’s current status
A historical cancellation notice is not enough to determine an entity’s current corporate or legal standing. For a present-day check, use RBI’s current list of registered NBFCs and separately check its list of deposit-taking NBFCs authorized to accept public deposits. RBI’s NBFC FAQ directs readers to those lists. A registration listing and authorization to accept public deposits are distinct checks.
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