Action on Goldline Capitals
Case Brief
On January 11, 2005, the Reserve Bank of India cancelled the Certificate of Registration issued to M/s. Goldline Capitals Limited, Hyderabad, authorising it to carry on the business of a non-banking financial institution. RBI invoked Section 45IA of the RBI Act, 1934, which empowers the central bank to cancel the registration certificate of a non-banking financial company.
The Reserve Bank of India cancelled the Certificate of Registration issued to M/s. Goldline Capitals Limited, Hyderabad, for carrying on the business of a non-banking financial institution. The press release cites Section 45IA of the Reserve Bank of India Act, 1934, under which RBI is empowered to cancel the registration certificate of an NBFC.
Severity Assessment
Cancellation of a Certificate of Registration is a licensing action that fully removes the NBFC’s permission to operate, which falls under severity 5.
The company can no longer carry on NBFC business under the cancelled registration. This removes its regulated permission to operate as a non-banking financial institution and affects its ability to conduct lending/finance activities as an NBFC. The effective date is January 11, 2005.
Published as M/s. Goldline Capitals Limited
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