Action on Hotz Industries
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Hotz Industries Ltd., a non-banking financial company based in New Delhi. The cancellation was made under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Hotz Industries Ltd., 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 is severity 5.
The company can no longer operate as an NBFC under its RBI registration. Any NBFC activities must stop unless and until a fresh authorization or other lawful arrangement is obtained.
Published as M/s Hotz Industries Ltd.
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