Action on Ask Financial Services
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Ask Financial Services Limited, an NBFC, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. This is a licence cancellation and ends the company's authority to operate as an NBFC.
The Reserve Bank of India cancelled the Certificate of Registration of Ask Financial Services Limited, which is a non-banking financial company, in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
Severity Assessment
Cancellation of an NBFC's Certificate of Registration is a full licence cancellation, which falls under severity 5.
Ask Financial Services Limited can no longer carry on NBFC business under the cancelled registration. The company is prevented from operating as a registered non-banking financial company unless it obtains fresh regulatory approval or registration, as applicable.
Published as Ask Financial Services Limited
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