Reserve Bank Cancels Certificate of Registration of M/s. Vidyut Investment Limited
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s. Vidyut Investment Limited, whose registered office is at A-11, Industrial Area, Phase-III, S.A.S. Nagar, Punjab, on December 19, 2007. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934. 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. Vidyut Investment Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the entity had been permitted to carry on the business of a non-banking financial institution, and that following cancellation it cannot transact that business.
Severity Assessment
Cancellation of a Certificate of Registration is a complete licensing action and is rated severity 5.
M/s. Vidyut Investment Limited is barred from carrying on non-banking financial institution business after the cancellation takes effect. The restriction affects the company directly and removes its ability to undertake NBFC operations; the release does not mention any remedy, deadline, or appeal.
Published as M/s. Vidyut Investment Limited
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