On December 27, 2005, the Reserve Bank of India cancelled the certificate of registration granted to Haryana Finance Private Limited, whose registered office was at Roshan Ara Road, New Delhi. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, and the company is now barred from carrying on the business of a non-banking financial institution.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: New Delhi, Delhi
Order Date: 27 Dec 2005
Effective From: 27 Dec 2005
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the certificate of registration of Haryana Finance Private Limited under Section 45-IA(6) of the RBI Act, 1934. As a result, the company can no longer transact the business of a non-banking financial institution.

Severity Assessment

Cancellation of a certificate of registration is a complete regulatory shutdown of the NBFC's licensed business, which falls in severity 5.

Impact

Haryana Finance Private Limited cannot undertake NBFC business going forward. The restriction is effective from the cancellation date, and the company must stop transacting the business of a non-banking financial institution.

Regulatory Basis

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

Restrictions & Effective Timeline

Effective From: 27 Dec 2005

Affected Entities

Haryana Finance Private Limited
Published as Haryana Finance Private Limited
NBFC · Primary

Official RBI Source

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