Photo: Reuters
Photo: Reuters

7 NBFCs surrender licence; RBI cancels licence of 4 others

Out of the seven firms that returned their licences, six are based in Mumbai and one in Pune

Mumbai: The Reserve Bank of India (RBI) on Tuesday said seven Maharashtra-based non-banking financial companies (NBFCs) have surrendered their registration certificates following which they will not be allowed to transact their financial business.

In a separate statement, the RBI said it has cancelled the registration certificate of four NBFCs.

Out of the seven firms that returned their licences, six are based in Mumbai and one in Pune.

These companies include Eureka Finvest, Baroda Industries, VH Doshi and Sons Investment, and Vinodchandra Doshi Investment Co. Pvt. Ltd.

The companies whose licences have been cancelled are Kolkata-based Neelanjali Engineering, and Novoflex Tradecom; Mumbai-based Guide Investments and Trading, and Pune-based Enol Ventures.

“As such, the companies cannot transact the business of non-banking financial institution," the RBI said.

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