Certificate of Registration - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of Nanavati Associates Private Limited and Ramsons Steel Private Limited, whose registered offices were in Mumbai and Nagpur respectively. The action was taken under Section 45-IA(6) of the RBI Act, 1934. As a result, both companies are no longer permitted to transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the certificates of registration granted to Nanavati Associates Private Limited and Ramsons Steel Private Limited, both having their registered offices in Maharashtra, for carrying on the business of a non-banking financial institution. The release states that, following cancellation, the companies cannot transact the business of a non-banking financial institution. The statutory basis cited is Section 45-IA(6) of the Reserve Bank of India Act, 1934, which empowers RBI to cancel an NBFC's registration certificate.
Severity Assessment
Cancellation of an NBFC Certificate of Registration is a licence cancellation, which carries severity 5.
Both companies must cease NBFC business immediately and cannot undertake non-banking financial institution गतिविधies going forward. The restriction affects the companies directly and, indirectly, their counterparties and customers relying on their NBFC operations.
Published as Nanavati Associates Private Limited
Published as Ramsons Steel Private Limited
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector