Action on Kant Finance
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Kant Finance Private Limited, Secunderabad, on July 27, 2004. The action was taken under Section 45IA of the Reserve Bank of India Act, 1934, and relates to the company’s authority to carry on business as a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration issued to Kant Finance Private Limited, Secunderabad, under Section 45IA of the Reserve Bank of India Act, 1934. The release states that the registration certificate of the non-banking financial company was cancelled for carrying on the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC’s registration certificate is a full licence cancellation, which is severity 5.
Kant Finance Private Limited cannot continue NBFC business unless it obtains fresh regulatory permission. The cancellation affects the company directly and stops it from operating as a registered non-banking financial institution.
Published as Kant Finance Private Limited, Secunderabad
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