Action on Nawanshahr Doaba Finlease
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s Nawanshahr Doaba Finlease Private Limited, whose registered office is at Nawanshahr, Punjab, under Section 45-IA(6) of the RBI Act, 1934. The cancellation means the company is no longer permitted to transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s Nawanshahr Doaba Finlease Private Limited 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.
Severity Assessment
Cancellation of an NBFC certificate of registration is a licence cancellation, which maps to severity 5.
The company must stop NBFC operations and cannot undertake non-banking financial institution business after the cancellation. The restriction directly affects the entity and any customers or counterparties relying on its NBFC activities.
Published as M/s Nawanshahr Doaba Finlease Private Limited
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