Certificate of Registration of M/s. SEL Leasing Ltd – Cancelled
Case Brief
On 28 July 2009, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s. SEL Leasing Limited, whose registered office is in New Delhi, for carrying on the business of a non-banking financial institution. The release says the company had voluntarily exited that business. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934. As a result, the company can no longer transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. SEL Leasing Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had voluntarily exited from the business of a non-banking financial institution, and therefore the registration was cancelled. After 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 licensing action because it removes the entity’s ability to operate in that regulated business.
M/s. SEL Leasing Limited is no longer permitted to conduct non-banking financial institution business. This removes its regulatory authorization to operate in that segment and affects any future NBFC activities.
Published as M/s. SEL Leasing Limited
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