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The Reserve Bank of India (RBI) has cancelled registration certificate of four non-banking finance companies (NBFC), two from Uttar Pradesh and one each from Bihar and West Bengal. Separately, the central bank has said that seven NBFCs, including L&T Finance Ltd and L&T Infra Credit Ltd have surrendered their registration certificate (CoR).
L&T Finance Holdings (LTFH) stated in December of last year that it had completed the merger of its subsidiaries.
L&T Finance, L&T Infra Credit, and five other non-banking financial companies (NBFCs) have surrendered their certificates of registration to the Reserve Bank of India. Following this, the central bank cancelled their Certificate of Registration (CoR) as they ceased to be a legal entity after amalgamation, merger, dissolution or voluntary strike-off.
The other 5 NBFCs which surrendered their CoR are Marudhar Food & Credit, Creative Intra, Jinvani Trading & Investment, Manjushree Fincap, and Shruti Financial Services