Action on Jeba Finance
Case Brief
On January 31, 2006, the Reserve Bank of India cancelled the Certificate of Registration granted to Jeba Finance Limited, based in Kanyakumari, under Section 45-IA(6) of the RBI Act, 1934. The release states that after 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 Jeba Finance Limited under Section 45-IA(6) 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 full operating restriction and is severity 5 under the rubric.
Jeba Finance Limited is barred from carrying on NBFC business after the cancellation. This removes its ability to legally operate as a non-banking financial institution going forward.
Published as Jeba Finance Limited
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