Action on Haryana Finance
Case Brief
On December 27, 2005, the Reserve Bank of India cancelled the certificate of registration granted to Haryana Finance Private Limited, whose registered office was at Roshan Ara Road, New Delhi. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, and the company is now barred from carrying on the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificate of registration of Haryana Finance Private Limited under Section 45-IA(6) of the RBI Act, 1934. As a result, the company can no longer transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a certificate of registration is a complete regulatory shutdown of the NBFC's licensed business, which falls in severity 5.
Haryana Finance Private Limited cannot undertake NBFC business going forward. The restriction is effective from the cancellation date, and the company must stop transacting the business of a non-banking financial institution.
Published as Haryana Finance Private Limited
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