Certificate of Registration of M/s. Commitment Capital Services Ltd – Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s. Commitment Capital Services Limited on July 27, 2009. The company’s registered office was at 3, Gagan Vihar, Delhi-110092. RBI cited the company’s voluntary exit from the business of a non-banking financial institution and exercised its powers under Section 45-IA(6) of the RBI Act, 1934. As a result, the company can no longer transact NBFC business.
On July 27, 2009, RBI cancelled the Certificate of Registration granted to M/s. Commitment Capital Services Limited under Section 45-IA(6) of the RBI Act, 1934. The stated reason was that the company had voluntarily exited from the business of a non-banking financial institution, after which it could no longer carry on that business.
Severity Assessment
Cancellation of the Certificate of Registration is a license cancellation, which is severity 5.
The company is barred from transacting business as a non-banking financial institution going forward. Customers and counterparties cannot rely on it for NBFC services, and the cancellation is effective from the date of the RBI order.
Published as M/s. Commitment Capital Services Limited
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