Certificate of Registration of Alternative Investments and Credits Limited - Cancelled
Case Brief
On April 23, 2012, the Reserve Bank of India cancelled the Certificate of Registration (CoR) No. 16.00169, dated January 9, 2002, issued to Alternative Investments and Credits Limited. The cancellation was made on supervisory grounds under Section 45-IA(6) of the RBI Act, 1934. After the cancellation, the company is not permitted to transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled CoR No. 16.00169 dated January 9, 2002, issued to Alternative Investments and Credits Limited, on supervisory grounds. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. Following the cancellation, the company is prohibited from carrying on the business of a non-banking financial institution.
Severity Assessment
Cancellation of an NBFC’s Certificate of Registration is a full licence cancellation, which carries severity 5 regardless of any underlying supervisory grounds.
Alternative Investments and Credits Limited must stop carrying on non-banking financial institution business. Depositors, borrowers, and counterparties should not rely on the firm to continue NBFC operations after the cancellation takes effect.
Published as Alternative Investments and Credits Limited
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