Action on Srishti Fincap
Case Brief
On February 14, 2008, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s Srishti Fincap Private Limited, whose registered office was in New Delhi, for carrying on the business of a non-banking financial institution. The action was taken under Section 45-IA(6) of the RBI Act, 1934. As a result, the company cannot transact NBFC business anymore.
The Reserve Bank of India cancelled the certificate of registration granted to M/s Srishti Fincap Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the cancellation was for carrying on the business of a non-banking financial institution, and that after cancellation the company cannot transact NBFC business.
Severity Assessment
Cancellation of a Certificate of Registration is a severity-5 licensing action because it removes the entity's authorization to operate as an NBFC.
M/s Srishti Fincap Private Limited loses the regulatory अनुमति to carry on non-banking financial institution business. The entity must stop NBFC activities, and counterparties relying on its NBFC status are affected; the order is effective from February 14, 2008.
Published as M/s Srishti Fincap Private Limited
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