Action on Om Shridevi Finance and Leasing
Case Brief
RBI has cancelled the Certificate of Registration of M/s Om Shridevi Finance and Leasing Limited, which is a non-banking financial company (NBFC), for carrying on the business of a non-banking financial institution. As a result, the company cannot transact non-banking financial institution business going forward.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Om Shridevi Finance and Leasing Limited, a non-banking financial company, for carrying on the business of a non-banking financial institution. The release states that following cancellation of the registration certificate, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC's Certificate of Registration is a licence cancellation, which is severity 5.
The company is barred from carrying on NBFC business after the cancellation. Customers and counterparties should treat the firm as no longer authorised to conduct non-banking financial institution activities.
Published as M/s Om Shridevi Finance and Leasing Limited
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