On October 8, 2007, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s Peeti Securities Limited, which had its registered office in Secunderabad. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934, after the company opted to exit the business of a non-banking financial institution. As a result, the company can no longer transact NBFC business.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: Secunderabad, Telangana
Order Date: 8 Oct 2007
Effective From: 8 Oct 2007
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration granted to M/s Peeti Securities Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company opted to exit from the business of a non-banking financial institution, and therefore its registration was cancelled.

Severity Assessment

Cancellation of a Certificate of Registration is a severe licensing action and is rated 5.

Impact

M/s Peeti Securities Limited is prohibited from carrying on non-banking financial institution business after the cancellation. This removes its ability to operate as an NBFC and affects any prospective customers or counterparties seeking NBFC services from it.

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: 8 Oct 2007

Affected Entities

M/s Peeti Securities Limited
Published as M/s Peeti Securities 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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