Reserve Bank Cancels Certificate of Registration of Bhairav Leasing and Finance Private Limited
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Bhairav Leasing and Finance Private Limited, whose registered office was in New Delhi, on 07 August 2007. The action was taken under Section 45-IA(6) of the RBI Act, 1934. As a result, the company cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to Bhairav Leasing and Finance Private Limited under Section 45-IA(6) of the RBI Act, 1934. After cancellation, the company is no longer permitted to transact the business of a non-banking financial institution as defined under the Act.
Severity Assessment
Cancellation of an NBFC registration is a license cancellation, which carries severity 5.
Bhairav Leasing and Finance Private Limited must stop carrying on NBFC/non-banking financial institution business. This removes its ability to operate in that regulated activity and affects counterparties and customers dealing with it in that capacity.
Published as Bhairav Leasing and Finance Private Limited
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