Cancellation of Certificate of Registration of NBFC

Case Brief

The Reserve Bank of India has cancelled the Certificate of Registration of the company referenced in the release. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The excerpt does not state the underlying factual violations or any additional details about the company.

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 exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of the company. No further factual basis or specific violation is provided in the text excerpt.

Severity Assessment

Cancellation of a Certificate of Registration is a complete licensing action and is severity 5 under the rubric.

Impact

The affected NBFC can no longer operate as a registered NBFC. Any ongoing lending or other regulated NBFC activities must cease, subject to any separate directions or transition arrangements not stated in the release.

Regulatory Basis

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