Nine NBFCs, including Reliance Net and Nischaya Finvest Private Limited, have surrendered their certificate of registration, the Reserve Bank of India .
Penrose Mercantiles Ltd, Manohar Finance India Ltd, Chandelier Tracon Pvt Ltd, and Sanghi Hire Purchase Ltd are among the NBFCs which have surrendered their certificates.
The certificate of registration is granted by the RBI.
With surrendering the certificates, the companies cannot transact the business of a non-banking financial institution.
In another statement, the central bank said it has cancelled the certificate of registration of 14 non-banking financial companies (NBFCs).
Primus Capital Private Limited (Formerly known as Rapid Growth Capital Services Private Limited), Bharat Finance and Industries Limited, Signature Finance Private Limited, Dee Bee Leasing and Hire Purchase Pvt Ltd, Jindal Finlease Pvt Ltd, and B L S Investments Pvt Ltd, are among the NBFCs whose certificate of registration were cancelled by the RBI.