Action on Mahamaya Investments
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Mahamaya Investments Ltd., whose registered office was in Mumbai, under Section 45-IA(6) of the RBI Act, 1934. The company had been carrying on the business of a non-banking financial institution. Following the cancellation, it is no longer permitted to transact that business.
The Reserve Bank of India cancelled the Certificate of Registration granted to Mahamaya Investments Ltd. under Section 45-IA(6) of the RBI Act, 1934. The release states the company had been registered for carrying on the business of a non-banking financial institution; after cancellation, it cannot transact that business.
Severity Assessment
Cancellation of a Certificate of Registration is a severity-5 licensing action that fully stops the NBFC from carrying on its regulated business.
Mahamaya Investments Ltd. must stop carrying on non-banking financial institution business. The cancellation removes its regulatory authorization to operate as an NBFC, affecting its ability to continue related activities.
Published as Mahamaya Investments Ltd.
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