The Reserve Bank of India cancelled the Certificate of Registration of A.R.S. Securities Private Limited on July 16, 2007 under Section 45-IA(6) of the RBI Act, 1934. The firm, which had its registered office in New Delhi, was registered to carry on the business of a non-banking financial institution. Following the cancellation, it is no longer permitted to transact that business.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: New Delhi, Delhi
Order Date: 16 Jul 2007
Effective From: 16 Jul 2007
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration granted to A.R.S. Securities Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that, after cancellation, the company cannot transact the business of a non-banking financial institution.

Severity Assessment

Cancellation of a Certificate of Registration is a complete licence cancellation, which carries severity 5 regardless of any monetary amount.

Impact

A.R.S. Securities Private Limited must stop carrying on non-banking financial institution activity. Counterparties and customers cannot rely on it to conduct NBFC business after the cancellation takes effect.

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: 16 Jul 2007

Affected Entities

A.R.S. Securities Private Limited
Published as A.R.S. Securities Private Limited
NBFC · Primary

Official RBI Source

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