HC Invalidates RBI Rejection of NBFC Exit Application

HC Invalidates RBI Rejection of NBFC Exit Application J. Thomas Finance Pvt. Ltd., an NBFC, decided to call it quits in early 2025. Citing a lack of commercial viability and the heavy weight of regulatory compliance, they applied to voluntarily surrender their Certificate of Registration (CoR) to the RBI. However, the RBI rejected the application…