Certificate of Registration of M/s. Premier Securities Pvt. Ltd. - Cancelled
Case Brief
On 13 August 2009, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Premier Securities Pvt. Ltd., whose registered office is in New Delhi, for carrying on the business of a non-banking financial institution. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934. As a result, the company is not permitted to transact NBFC business.
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Premier Securities Pvt. Ltd. for carrying on the business of a non-banking financial institution. The release states that the cancellation was made under Section 45-IA(6) of the Reserve Bank of India Act, 1934. No additional misconduct is described in the text beyond the statutory cancellation of registration.
Severity Assessment
Cancellation of an NBFC's Certificate of Registration is a severity-5 action because it prevents the entity from carrying on its regulated business.
With the registration cancelled, M/s. Premier Securities Pvt. Ltd. must stop carrying on non-banking financial institution business. The restriction directly affects the company’s ability to operate as an NBFC and eliminates its authority to transact regulated financial business.
Published as M/s. Premier Securities Pvt. Ltd.
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