More Stories

Informist, Monday, Oct. 13, 2025

 

NEW DELHI – The Reserve Bank of India in September cancelled the certificates of registrations of 21 non-banking financial companies and 13 others, along with one housing finance company, surrendered their registrations, the central bank said in releases Monday. However, Tata Sons was not among the companies whose registrations were withdrawn in September.

 

Tata Sons had applied to the RBI for deregistration as a core investment company classified as an upper-layer non-banking financial company, and the regulator was reviewing that request, the regulator said in January. This move is seen as a way for Tata Sons to avoid the mandate by the RBI that required the upper layer of non-banking finance companies to list by September. It has so far not even filed a draft red herring prospectus, the first step to a listing, according to publicly available documents on the Securities and Exchange Board of India website.

 

After the deadline passed, senior RBI officials avoided media queries on the subject at a press conference on Oct. 1. Tata Sons is the principal holding company and promoter of Tata group companies. Reports suggest even top ministers including Finance Minister Nirmala Sitharaman have been met Tata group officials on the matter as it involves one of the country's largest conglomerates.

 

Meanwhile, Bachhraj and Co. Pvt. Ltd.'s certificate of registration was withdrawn on its request as it meets the criteria prescribed to be an unregistered core investment company that do not require registration, the RBI said. Six NBFCs surrendered registrations after exiting the non-banking financial institution business, while another six registrations were surrendered due to the company ceasing to be a legal entity. APAC Housing Finance Pvt. Ltd., the sole housing finance company on the list, also ceased to be a legal entity and its registration was surrendered.

 

None of the 21 companies whose certificates were cancelled by the RBI unilaterally, rather than surrendering them, are listed. These include Athena Financial Services Ltd. and Diwan Sons Holding and Consultancy Pvt. Ltd.  End

 

Reported by Aaryan Khanna

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.