Reserve Bank Cancels Certificate of Registration of M/s. Dalia Securities Limited, Hyderabad
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Dalia Securities Limited, whose registered office is in Hyderabad, on September 7, 2004. The action was taken under Section 45IA of the RBI Act, 1934. As a result, the company cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificate of registration granted to M/s. Dalia Securities Limited, Hyderabad, on September 7, 2004. The release states that the cancellation was under Section 45IA of the RBI Act, 1934, and that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a Certificate of Registration is a severity 5 action because it stops the NBFC from carrying on its regulated business at all.
M/s. Dalia Securities Limited is prohibited from carrying on NBFC business after the cancellation. The immediate impact is on the company’s ability to operate as a regulated non-banking financial institution; customers and counterparties should not treat it as authorised to conduct such business.
Published as M/s. Dalia Securities Limited
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