Action on Artee Viniyoga
Case Brief
On May 5, 2008, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Artee Viniyoga Limited, whose registered office was in New Delhi. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934. As a result, the company cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificate of registration granted to M/s. Artee Viniyoga Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company was registered to carry on the business of a non-banking financial institution, and after cancellation it cannot transact that business.
Severity Assessment
Cancellation of a certificate of registration is a licence cancellation, which is severity 5.
M/s. Artee Viniyoga Limited is prohibited from carrying on NBFC business going forward. Any customers, counterparties, or lenders dealing with the company in that capacity are affected by the loss of its registration, and the company must cease NBFC operations.
Published as M/s. Artee Viniyoga Limited
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