Action on Unclassified entity
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s DSL Finance Pvt. Ltd. and M/s Malayalam Hire Purchase and Leasing (P) Ltd. These entities are non-banking financial institutions, and the cancellation was issued under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
The Reserve Bank of India cancelled the Certificate of Registration of two non-banking financial institutions: M/s DSL Finance Pvt. Ltd. and M/s Malayalam Hire Purchase and Leasing (P) Ltd. The cancellation was made under the powers conferred by clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.
Severity Assessment
Cancellation of a Certificate of Registration is a complete licence/registration withdrawal, which is severity 5.
The two NBFIs can no longer operate as RBI-registered non-banking financial institutions. Any business requiring the Certificate of Registration is affected immediately, and counterparties should treat the firms as no longer holding the licence.
Published as M/s Malayalam Hire Purchase and Leasing (P) Ltd
Published as M/s DSL Finance Pvt. Ltd.
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