Reliance Home Finance surrenders certificate of registration to the NHB

Reliance Home Finance, which was an arm of Anil Ambani’s Reliance Capital, has surrendered its certificate of registration to the National Housing Bank. The Reserve Bank of India said on Friday while cancelling its licence.

In November 2021, the RBI superseded the board of Reliance Capital in view of payment defaults and serious governance issues and had initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code. The resolution plan of Reliance Capital is yet to receive the National Company Law Tribunal’s approval.

There are other nine non-banking finance companies which surrendered the Certificate of Registration (CoR), the RBI said on Friday. These include SMILE Microfinance, Cauvery Tradefin Private Limited, Microfirm Capital Private Limited, among others.

 

This apart, the RBI cancelled the licences of three NBFCs - Cox & Kings Financial Service Limited, Bharathu Investment & Finance India Limited, and PSPR Enterprises Private Limited.