Action on Sansun Leasing and Finance
Case Brief
RBI cancelled the Certificate of Registration No. B-12.00270 granted to Sansun Leasing and Finance Private Ltd., Dehradun, for carrying on the business of a non-banking financial institution. The release says the company had voluntarily exited the business. The action was taken under Section 45-IA(6) of the RBI Act, 1934.
The Reserve Bank of India cancelled Certificate of Registration No. B-12.00270, granted on December 18, 2000, to Sansun Leasing and Finance Private Ltd. for carrying on the business of a non-banking financial institution. The release states that the company had voluntarily exited from the business. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934.
Severity Assessment
Cancellation of a Certificate of Registration is a full license cancellation, which carries severity 5 regardless of any monetary amount.
Sansun Leasing and Finance Private Ltd. can no longer transact the business of a non-banking financial institution. The cancellation has immediate forward effect and removes the company’s authority to operate as an NBFC.
Published as Sansun Leasing and Finance Private Ltd.
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