Certificate of Registration of R.R.Finance and Projects Limited - Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration issued to R.R.Finance and Projects Limited for carrying on the business of a non-banking financial institution. The order was issued on January 18, 2012 under Section 45-IA(6) of the RBI Act, 1934. RBI said the company had voluntarily exited from carrying on NBFI activities, and after cancellation it cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled Certificate of Registration No. 09.00227 dated December 4, 1998, issued to R.R.Finance and Projects Limited, under Section 45-IA(6) of the RBI Act, 1934. The release states that the cancellation was because the company had voluntarily exited from carrying on non-banking financial institution (NBFI) activities.
Severity Assessment
Cancellation of a Certificate of Registration is a full licensing action and therefore falls in severity 5.
R.R.Finance and Projects Limited can no longer carry on non-banking financial institution business. The cancellation removes its RBI registration and prevents it from transacting NBFI activities going forward.
Published as R.R.Finance and Projects Limited
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