Certificate of Registration of G.S. Finance and Investments Limited - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of G.S. Finance and Investments Limited, whose registered office was in Rajajinagar, Bangalore, under Section 45-IA(6) of the RBI Act, 1934. The release says the cancellation followed the company’s decision to exit the business of a non-banking financial institution. As a result, the company is no longer permitted to transact NBFC business.
The Reserve Bank of India cancelled the certificate of registration granted to G.S. Finance and Investments Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had opted to exit from the business of a non-banking financial institution, and therefore its registration was cancelled. Following the cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC certificate of registration is a severity-5 licence cancellation under the rubric.
G.S. Finance and Investments Limited must cease NBFC operations and cannot undertake the business of a non-banking financial institution going forward. The restriction affects the company itself and any counterparties relying on its NBFC activities; no deadline beyond the cancellation date is stated.
Published as G.S. Finance and Investments Limited
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