The Reserve Bank of India cancelled the Certificate of Registration of M/s Atul Finvest Limited, whose registered office is in Kolkata, under Section 45-IA(6) of the RBI Act, 1934. The release says the cancellation was because the company had opted to exit the business of a non-banking financial institution. Following the cancellation, the company cannot transact NBFC business.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: Kolkata, West Bengal
Order Date: 27 Jan 2006
Effective From: 27 Jan 2006
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the certificate of registration granted to M/s Atul Finvest Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had opted to exit from the business of a non-banking financial institution, and as a result it can no longer transact NBFC business.

Severity Assessment

Cancellation of a Certificate of Registration is a licence-cancellation action, which carries severity 5.

Impact

M/s Atul Finvest Limited can no longer carry on non-banking financial institution business. The restriction is permanent unless a fresh regulatory permission is later obtained; customers and counterparties should no longer treat it as an active NBFC for new business.

Regulatory Basis

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

Restrictions & Effective Timeline

Effective From: 27 Jan 2006

Affected Entities

M/s Atul Finvest Limited
Published as M/s Atul Finvest Limited
NBFC · Primary

Official RBI Source

View RBI Release Open Source PDF

RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.

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