Aditya Birla Nuvo said that its subsidiary ABNL Investment has voluntarily surrendered the category ‘B’ Certificate of Registration (COR) of Non-Banking Finance Company (non-accepting deposits) to the Reserve Bank of India.
In a communication to the stock exchange, the company said it has requested RBI to cancel the registration as the income from its non-financial assets is more than the income arising out of the financial assets and that it does not intend to carry on the business of an NBFC.