Certificate of Registration of Tamil Nadu Water Investments Company Ltd - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Tamil Nadu Water Investment Company Ltd. on February 3, 2012. The registration, issued under Section 45-IA(6) of the RBI Act, 1934, was cancelled because the company had voluntarily exited from carrying on non-banking financial institution activities. As a result, the company is no longer permitted to transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled Certificate of Registration No. 07.00728 dated June 15, 2002, issued to Tamil Nadu Water Investment Company Ltd. under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had voluntarily exited from carrying on NBFI activities, and following cancellation it cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a Certificate of Registration is a complete licence/registration revocation, which is severity 5.
The company must stop all non-banking financial institution activity and cannot legally transact that business going forward. The effect is limited to the named company, with no broader customer or market-wide restriction described beyond the loss of its NBFI status.
Published as Tamil Nadu Water Investment Company Ltd.
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