The Reserve Bank of India cancelled the Certificate of Registration granted on May 24, 2000 to Zoom Exports Limited, whose registered office is at Bangalore. The cancellation was issued on June 3, 2010 under Section 45-IA(6) of the RBI Act, 1934, after the company opted to exit the business of a non-banking financial institution. Following the cancellation, the company cannot transact the business of a non-banking financial institution.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: Bangalore, Karnataka
Order Date: 3 Jun 2010
Effective From: 3 Jun 2010
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the certificate of registration granted to Zoom Exports 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 as a result it can no longer carry on that business.

Severity Assessment

Cancellation of a Certificate of Registration is a severity-5 action because it removes the entity’s ability to operate as an NBFC.

Impact

Zoom Exports Limited is no longer permitted to carry on non-banking financial institution business. This ends its regulated NBFC operations and affects any customers or counterparties relying on those activities.

Regulatory Basis

Section 45-IA (6) of the Reserve Bank of India Act, 1934
Section 45-I of the Reserve Bank of India Act, 1934

Restrictions & Effective Timeline

Effective From: 3 Jun 2010

Affected Entities

Zoom Exports Limited
Published as Zoom Exports Limited
NBFC · Primary

Official RBI Source

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RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.

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