Certificate of Registration of Shogun Finlease Private Limited – Cancelled
Case Brief
The Reserve Bank of India cancelled the certificate of registration of Shogun Finlease Private Limited, which was registered to carry on the business of a non-banking financial institution. The action was taken on March 8, 2010 under Section 45-IA(6) of the RBI Act, 1934, after the company opted to exit the business. 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 Shogun Finlease Private 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 CoR was cancelled.
Severity Assessment
Cancellation of a certificate of registration is a full licence cancellation, which carries severity 5.
Shogun Finlease Private Limited is no longer permitted to conduct non-banking financial institution business. Any such operations must stop, and counterparties should not treat it as an active NBFC for new business after the cancellation date.
Published as Shogun Finlease Private Limited
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