Certificate of Registration of Kuzhiyathu Hire Purchase & Finance Private Limited - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to Kuzhiyathu Hire Purchase & Finance Private Limited, whose registered office was stated as 553/IV, Cheriyanad, Mampra P.O., Chengannur, Kerala. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. As a result of the cancellation, the company cannot carry on the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to Kuzhiyathu Hire Purchase & Finance Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC’s Certificate of Registration is a severity-5 licensing action because it stops the entity from carrying on its regulated business.
The company is barred from transacting NBFC business after June 17, 2009. This directly affects the entity and any counterparties relying on its financial services, because it can no longer operate as a regulated non-banking financial institution.
Published as Kuzhiyathu Hire Purchase & Finance Private Limited
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