Case Brief
What Happened
In this release, RBI cancelled the Certificate of Registration of six companies: Wofin Leasing and Finance Private Limited, Outram Properties Pvt Ltd, SCM Holding Private Limited, Kalash Vyapaar Private Limited, Everest Vinimay Private Limited, and Adhikar Microfinance Private Limited. The cancellation is made under Section 45-IA(6) of the RBI Act, 1934. RBI further states that the above companies shall not transact the business of a Non-Banking Financial Institution as defined in the RBI Act. The cancellation order dates are May 16, 2025 for five entities and May 20, 2025 for Adhikar Microfinance Private Limited.