Mumbai, March 25, 2025: The Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) of Unitara Finance Limited, effectively barring the company from operating as a Non-Banking Financial Institution (NBFC).
The central bank exercised its powers under Section 45-IA (6) of the Reserve Bank of India Act, 1934, to revoke the registration through an order dated March 24, 2025. Unitara Finance Limited, registered with CIN No. U65921MP1994PLC008248, was originally granted its CoR on February 20, 1998. The company, headquartered at 70, Transport Nagar, Indore, Madhya Pradesh, can no longer conduct NBFC operations as defined under Section 45-I(a) of the Act.
The RBI has not disclosed specific reasons for the cancellation. However, such actions are typically taken in cases of regulatory non-compliance, financial mismanagement, or failure to meet prescribed operational standards. The move underscores the central bank’s ongoing efforts to tighten oversight of the NBFC sector and ensure financial stability.
Further details on the implications for Unitara Finance’s customers and stakeholders are awaited.