Action on Lipi Mercantile
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Lipi Mercantile Limited, which is described as a non-banking financial company (NBFC). The cancellation was issued under Section 45-IA(6) of the Reserve Bank of India Act, 1934. No further conduct details are provided in the release.
The Reserve Bank of India cancelled the certificate of registration of Lipi Mercantile Limited, a non-banking financial company (NBFC), in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not state any additional factual basis beyond the cancellation itself.
Severity Assessment
Cancellation of an NBFC's certificate of registration is a licence cancellation, which is severity 5.
Lipi Mercantile Limited can no longer operate as an NBFC under the cancelled registration. The action is final from the date of cancellation, and any regulated NBFC activities would have to cease unless otherwise permitted by law.
Published as Lipi Mercantile Limited
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