Action on Janki Hire Leasing & Financiers
Case Brief
On March 12, 2008, the Reserve Bank of India cancelled the Certificate of Registration of Janki Hire Leasing & Financiers Pvt. Limited, whose registered office is in Kanpur, under Section 45-IA(6) of the RBI Act, 1934. The order means the company cannot transact the business of a non-banking financial institution anymore. No specific underlying violation is stated in the text.
The Reserve Bank of India cancelled the Certificate of Registration granted to Janki Hire Leasing & Financiers Pvt. Limited under Section 45-IA(6) of the RBI Act, 1934. The release does not state any specific misconduct; it only states that the registration certificate was cancelled, after which the entity cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a Certificate of Registration is a license cancellation, which is severity 5 regardless of whether a fine is involved.
The company is barred from continuing NBFC activities after the cancellation. Customers and counterparties should no longer treat it as authorised to conduct non-banking financial institution business. The action takes effect from March 12, 2008.
Published as Janki Hire Leasing & Financiers Pvt. Limited
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