The Reserve Bank of India (RBI) disclosed on May 10 that 15 non-banking finance companies (NBFCs) have opted to surrender their licenses. This decision stems from various reasons, including business closures and corporate events such as amalgamation, merger, dissolution, or voluntary strike-off.
Among these NBFCs, six, namely Vian Growth Capital Pvt Ltd, Drap Leasing and Finance Pvt Ltd, Jewel Strips Pvt Ltd, Revolving Investments Ltd, Anshu Leasing Pvt Ltd, and A. V. B. Finance Pvt Ltd, have chosen to exit the Non-Banking Financial Institution (NBFI) sector.
Simultaneously, nine other NBFCs, specifically JDS Securities Pvt Ltd, Jodhani Management Pvt Ltd, ABRN Finance Pvt. Ltd, Tata Capital Financial Services Ltd, Tata Cleantech Capital Ltd, Naperol Investments Ltd, USG Financial Services Pvt Ltd, Urja Capital Pvt Ltd, and Vandana Dealers Pvt. Ltd, have ceased to exist as legal entities due to amalgamation, merger, dissolution, or voluntary strike-off.