L&T Finance, L&T Infra Credit, and five other non-banking financial companies have surrendered their certificates of registration to the Reserve Bank of India.
Following this, the central bank cancelled their Certificate of Registration as they ceased to be a legal entity after amalgamation, merger, dissolution or voluntary strike-off.
In December last year, L&T Finance Holdings had announced the completion of merger of subsidiaries L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee, with itself.
The other five NBFCs which surrendered their CoR are Marudhar Food & Credit Ltd, Creative Intra Ltd, Jinvani Trading & Investment Company, Manjushree Fincap, and Shruti Financial Services.
In another statement, the RBI said it has cancelled CoR of four NBFCs -- Nimisha Finance India, R.M.B. Finance Company, Suyash Finovest, and Kamdhar Leasing and Finance Ltd.
These four companies cannot transact the business of a non-banking financial institution, it added.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.