Reserve Bank Cancels Certificate of Registration of M/s. ACME Investments Limited
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. ACME Investments Limited, whose registered office is in Kanpur, under Section 45-IA(6) of the RBI Act, 1934. The release says the company opted to exit the business of a non-banking financial institution. Following the cancellation, 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. ACME Investments Limited for carrying on the business of a non-banking financial institution. The release states that the company had opted to exit from the NBFC business. The cancellation was made 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 licence cancellation, which carries the maximum severity of 5.
M/s. ACME Investments Limited is no longer permitted to carry on NBFC business. The restriction is effective from the cancellation date, and the entity must cease transacting as a non-banking financial institution.
Published as M/s. ACME Investments Limited
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