Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
12 Jun 2025
Case Brief
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.
Why RBI Acted
The Reserve Bank of India cancelled the Certificates of Registration of six companies under Section 45-IA(6) of the RBI Act, 1934. The companies listed are 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 release states that, as a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined under Section 45-I(a) of the RBI Act, 1934. Cancellation order dates are May 16, 2025 for the first five companies and May 20, 2025 for Adhikar Microfinance Private Limited.
Operating Impact
The six companies lose authorization to operate as NBFCs and must stop conducting non-banking financial institution business. This affects the entities directly and may impact customers, borrowers, and counterparties dealing with them. No monetary penalty is mentioned.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I(a) of the RBI Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 16 May 2025
- Effective From
- 16 May 2025
- Entities Affected
- 6
- Entity Role
- Bulk Member
- Entity Type
- NBFC
Related Entities
Entities similar to Kalash Vyapaar Private Limited
Adhikar Microfinance Private Limited
NBFC · Kolkata, West Bengal
1 shared action
1 restriction
Everest Vinimay Private Limited
NBFC · Kolkata, West Bengal
1 shared action
1 restriction
Outram Properties Pvt Ltd
NBFC · Kolkata, West Bengal
1 shared action
1 restriction
SCM Holding Private Limited
NBFC · Kolkata, West Bengal
1 shared action
1 restriction
Wofin Leasing and Finance Private Limited
NBFC · Kolkata, West Bengal
1 shared action
1 restriction