Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of M/s Sai Adarsha Finance & Investments India Private Limited, which is a non-banking financial company (NBFC). As a result of the cancellation, the company cannot transact the business of a non-banking financial institution. The release does not provide the specific reasons for the cancellation.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Sai Adarsha Finance & Investments India Private Limited, an NBFC, for carrying on the business of a non-banking financial institution. The release does not specify the underlying contraventions, but confirms that the cancellation prevents the company from transacting NBFC business.
Severity Assessment
Cancellation of an NBFC’s Certificate of Registration is a complete licence cancellation, which falls in severity 5.
The company is barred from undertaking NBFC business going forward. Customers and counterparties should not treat it as authorised to transact non-banking financial institution activities after the cancellation takes effect.
Published as M/s Sai Adarsha Finance & Investments India Private Limited
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