Action on Ramir Finance & Leasing Company
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Ramir Finance & Leasing Company Ltd., an NBFC based in Punjab, using its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not specify any additional factual findings or the precise misconduct leading to the cancellation.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Ramir Finance & Leasing Company Ltd., a non-banking financial company, in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. No additional factual findings or conduct-specific violations are stated in the provided text.
Severity Assessment
Cancellation of an NBFC’s Certificate of Registration is a severity-5 license cancellation action.
The company can no longer operate as an NBFC under its Certificate of Registration. Any ongoing NBFC business activities would be affected by the cancellation, subject to the legal consequences of the RBI order and applicable law.
Published as M/s Ramir Finance & Leasing Company Ltd.
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