RBI Cancels CoR Of 3 NBFCs, Including Cox & Kings Financial Service

9 NBFCs and 1 HFC (Reliance Home Finance) surrender their Certificate of Registration to RBI

FinTech BizNews Service   

Mumbai, February 10, 2024: 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 (CoR) of the following companies.

1 Bharathu Investment & Finance India, Jehanabad, Bihar. 

2 Cox & Kings Financial Service Limited, Fort, Mumbai.

3 PSPR Enterprises Pitampura, Delhi.

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.

The following Nine 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.

9. Due to exit from Non-Banking Financial Institution (NBFI) business: S.M.I.L.E. Microfinance, JFC Impex, Cauvery Tradefin and Ginni Tradefin.
10. ii) Due to NBFC ceasing to be a legal entity after amalgamation/ merger/dissolution/ voluntary strike-off, etc.: J G Trading & Investment, S. K. Finserve, Microfirm Capital, Bohra & Co and Mahyco Grow Finance. Further, the following Housing Finance Company (HFC) has 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 its CoR.
11. Due to exit from Housing Finance Institution business: Reliance Home Finance,