RBI cancelled the registration of these 8 entities, now they will not be able to do business as a financial company
The Reserve Bank of India said that 4 NBFCs have surrendered their certificates of registration. Also, 4 NBFC Registration Certificates (COR) have been cancelled. RBI said in a statement that now these 8 entities will no longer be able to do business as a non-banking financial company.
Muskan 
The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) of four non-banking finance companies (NBFCs) while four other NBFCs have submitted their CoRs to the central bank. RBI said in a statement that now these 8 entities will no longer be able to do business as a non-banking financial company (NBFC). Markets regulator SEBI (Securities and Exchange Board of India) has also cancelled the certificate of registration of Brickwork Ratings India Pvt Ltd, RBI says.
The four NBFCs whose licenses have been cancelled by the Reserve Bank of India are SRM Properties and Finance Company Pvt. Ltd., North East Region Finservices Ltd., Sojenvi Finance Ltd. and Opal Finance Ltd. SRM Properties & Finance Company is a Jaipur-based NBFC, which received its license in 2002. Imphal-based company North East Region Finservices obtained its NBFC license on 30 October 2008. Bengaluru-based Sojenvi Finance received its CoR in 1998. Patna-based Open Finance was given the license in 2002.
At the same time, RBI has cancelled the certificates of the other 4 NBFCs SRM Properties And Finance Company Private Limited, North East Region Finservices Limited, Sojenvi Finance Limited and Opal Finance Limited.
According to the Reserve Bank, after the cancellation of the CoR, these companies will not transact the business of NBFCs. Days after revoking NBFC licenses, the finance ministry last month said that the RBI will monitor accounts to tighten the noose around platforms operating illegally in the country that can be used for money laundering. The Reserve Bank said that it will cancel the review of NBFCs to prevent people from misusing them.
