Certificate of Registration - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of eight non-banking financial companies with registered offices in Delhi/New Delhi. The action was taken under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, these companies cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificate of registration granted to eight companies carrying on the business of a non-banking financial institution. The release states that, following cancellation of the registration certificate, the companies cannot transact NBFC business. The cancellation is made under Section 45-IA(6) of the RBI Act, 1934.
Severity Assessment
Cancellation of the Certificate of Registration is a full licence revocation, which is severity 5 regardless of monetary amount.
All eight companies lose their RBI registration and must stop NBFC საქმიანity immediately. Customers and counterparties can no longer deal with them as regulated NBFCs for new business.
Published as M/s Shewnarain Magraj Finance and Investment Private Limited
Published as M/s Sober Associates Private Limited
Published as M/s Smita Commercial Investment Limited
Published as M/s Shri Mahavir Leasing And Finance Limited
Published as M/s L.R.Finvest Private Limited
Published as M/s Akanksha Finvest Limited
Published as M/s. Apace Leasing and Finance Limited
Published as M/s. Nissie Finlease Private Limited
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