Reserve Bank Cancels Certificate of Registration of Payyanur Anjaly Investments Private Limited, Annur
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Payyanur Anjaly Investments Private Limited on 8 September 2005. The company, whose registered office is at Annur, Kannur, Kerala, had been granted registration for carrying on the business of a non-banking financial institution. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934, and means the company is no longer permitted to transact NBFC business.
The Reserve Bank of India cancelled the certificate of registration granted to Payyanur Anjaly Investments Private Limited under Section 45-IA(6) of the RBI Act, 1934. The cancellation was for carrying on the business of a non-banking financial institution, and the release states that the company cannot transact the business of a non-banking financial institution after the cancellation.
Severity Assessment
Cancellation of an NBFC Certificate of Registration is a licence cancellation, which is severity 5.
Payyanur Anjaly Investments Private Limited is barred from carrying on any non-banking financial institution business following the cancellation. This removes its ability to operate as an NBFC and affects its customers and counterparties to the extent they relied on its NBFC activities.
Published as Payyanur Anjaly Investments Private Limited
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