Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of 16 companies under Section 45-IA(6) of the RBI Act, 1934. The release names each affected company and the date of cancellation order, and states that the companies shall not transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the RBI Act, 1934.
Quick Facts
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Mumbai, Maharashtra
- Order Date
- 7 Jul 2025
- Effective From
- 7 Jul 2025
- Entities Affected
- 16
Why RBI Acted
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of 16 companies. The order lists the affected entities and their CoR cancellation dates. As a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.
Severity Assessment
Cancellation of the Certificate of Registration is a licence cancellation, which is severity 5 by the rubric.
Impact
All 16 affected companies are prohibited from carrying on non-banking financial institution business going forward. Customers and counterparties dealing with these entities should treat them as no longer authorized to operate as NBFCs.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I(a) of the RBI Act, 1934
Restrictions & Effective Timeline
- Effective From
- 7 Jul 2025
Affected Entities
- Praptee Savings and Investment (India) LimitedNBFC · Bulk Member
Published as Praptee Savings and Investment (India) Limited
- Softfin Investments Private LimitedNBFC · Bulk Member
Published as Softfin Investments Private Limited
- Tyche Securities Pvt LtdNBFC · Bulk Member
Published as Tyche Securities Pvt Ltd
- Bharat Udyog LimitedNBFC · Bulk Member
Published as Bharat Udyog Limited
Official RBI Source
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.