Action on J.P.S.K.Holdings
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s. J.P.S.K.Holdings Private Limited, whose registered office was in New Delhi, under Section 45-IA(6) of the RBI Act, 1934. The cancellation was for carrying on the business of a non-banking financial institution, and the release makes clear that after cancellation the company cannot transact NBFC business.
RBI cancelled the Certificate of Registration of M/s. J.P.S.K.Holdings Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company’s registration as a non-banking financial institution was cancelled, after which it cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC Certificate of Registration is a severity-5 action because it removes the entity’s ability to operate as a non-banking financial institution.
M/s. J.P.S.K.Holdings Private Limited is prohibited from carrying on non-banking financial institution business from the date of cancellation. The action directly affects the company and prevents it from undertaking NBFC operations.
Published as M/s. J.P.S.K.Holdings Private Limited
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