Archive · 18 Sep 2025
RBI Revokes Licenses of NBFCs Linked to Vijay Mallya
The Reserve Bank of India (RBI) has taken away the licenses of two financial companies in Kolkata, Kamsco Industries and Pharma Trading Co.
These companies are linked to Vijay Mallya, the former owner of Kingfisher Airlines.
The RBI has the power to do this if companies don't follow the rules, such as not doing business or not filing paperwork.
The companies used to hold shares in United Breweries.
The shares were seized by authorities.
Vijay Mallya claims he's been treated unfairly but the government claims to have recovered the owed money from him.
RBI revoked licenses of Kamsco Industries and Pharma Trading Co., linked to Vijay Mallya.
The companies are Kolkata-based and were once involved with United Breweries.
The RBI can revoke licenses for reasons including inactivity or non-compliance.
Both companies' shares of United Breweries were seized.
Vijay Mallya claimed he was treated unfairly, while the government claims they recovered his debts.
- Who
- RBI, Kamsco Industries, Pharma Trading Co., Vijay Mallya
- What
- RBI revoked the licenses of two NBFCs linked to Vijay Mallya.
- When
- Licenses revoked on August 1, 2024.
- Where
- Kolkata
- Why
- Companies no longer conducting NBFC business, have not filed returns, or failed to comply with RBI regulations.
- Companies Affected
- Kamsco Industries, Pharma Trading Co.
- Location
- Kolkata
- License Revocation Date
- August 1, 2024
- RBI Authority
- Section 45-IA(6) of the RBI Act
- Companies' Businesses
- Investment and credit companies (ICC)
- Director Linked
- Vijay Mallya's family