Reserve Bank Cancels Certificate of Registration of M/s Mango Securities Limited, Hyderabad
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s Mango Securities Limited, Hyderabad, under Section 45-IA of the RBI Act, 1934. The order is a licence cancellation for a non-banking financial company. No specific misconduct is described in the release, but the effect is that the company is no longer permitted to carry on the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s Mango Securities Limited, Hyderabad, for carrying on the business of a non-banking financial institution. The cancellation was issued under Section 45-IA of the RBI Act, 1934. The release does not provide detailed factual allegations or a specific misconduct narrative, only that the company’s registration stood cancelled and it could no longer carry on NBFC business.
Severity Assessment
Cancellation of a Certificate of Registration is a full license cancellation, which is severity 5 regardless of the absence of a monetary penalty.
M/s Mango Securities Limited must cease NBFC operations and cannot legally transact non-banking financial business after the cancellation. The restriction directly affects the company and any customers or counterparties dealing with it as an NBFC.
Published as M/s Mango Securities Limited
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