Action on BRR Leafin
Case Brief
On November 22, 2004, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s BRR Leafin Private Limited, whose registered office was in Hyderabad, under Section 45-IA of the RBI Act, 1934. The release says that after the cancellation, the company cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificate of registration granted to M/s BRR Leafin Private Limited under Section 45-IA of the RBI Act, 1934. The release states that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a certificate of registration is a licence cancellation action, which carries severity 5 regardless of any monetary amount.
M/s BRR Leafin Private Limited is barred from carrying on non-banking financial institution business from the cancellation date. This directly affects the company’s operations and any customers or counterparties relying on its NBFC activities.
Published as M/s BRR Leafin Private Limited
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