Cancellation of Certificate of Registration of NBFC

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of an NBFC under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The supplied release excerpt does not include the name of the company or any additional factual basis for the cancellation beyond the statutory reference.

Action Snapshot

Primary Impact: License cancellation
Entity Type: NBFC
Action Type: License cancellation
Order Date

Unknown date

Effective From

Unknown date

Entities Affected

1

Why RBI Acted

Licensing breach

The Reserve Bank of India, exercising powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, cancelled the Certificate of Registration of the company. The text provided does not state any further facts about the specific violation or the company name.

Severity Assessment

Cancellation of a Certificate of Registration is a severity 5 action because it is a licence cancellation that prevents the NBFC from operating as registered.

Impact

The NBFC can no longer operate as a registered non-banking financial company. Any business activities requiring an RBI Certificate of Registration are affected, but the provided text does not specify any further timeline or compliance steps.

Regulatory Basis

Section 45-IA (6) of the Reserve Bank of India Act, 1934