Vivid Finance and Holdings Private Limited

In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration (CoR) of 10 companies. The order covers Paridhi Trading Company Pvt Ltd, Progressive Securities Private Limited, Sanwa Finance Private Limited, Sunflex Finance and Investments Limited, Tirupati Holdings Limited, Vasant Sanghavi Securities Private Limited, Vivid Finance and Holdings Private Limited, Variety Investments Pvt Ltd, Sam Tul Investments Ltd, and Shreeramanjaneya Leasing and Finance P Ltd. As a result, these companies shall not transact the business of a Non-Banking Financial Institution as defined in clause (a) of Section 45-I of the RBI Act, 1934.

These companies lose authorization to operate as NBFCs and must stop NBFI business activities. Borrowers, counterparties, and other stakeholders dealing with them as financial institutions are affected by the cancellation, effective from the cancellation order date stated in the release.