The Reserve Bank of India cancelled the Certificate of Registration of M/s Nocil Agents Pvt. Ltd., a non-banking financial company with offices in Kolkata. The action was taken under Section 45-IA(6) of the RBI Act, 1934. The release does not describe any specific misconduct, but the cancellation means the entity is no longer permitted to carry on the business of a non-banking financial institution.

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Quick Facts

Primary Impact: License cancellation
Entity Type: NBFC
Location: Kolkata, West Bengal
Order Date: 11 Oct 2013
Effective From: 11 Oct 2013
Entities Affected: 1

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the certificate of registration issued to M/s Nocil Agents Pvt. Ltd. on October 11, 2013. The release cites Section 45-IA(6) of the RBI Act, 1934 as the statutory basis for cancellation. No specific factual breach or misconduct is stated in the text.

Severity Assessment

Cancellation of a non-banking financial company’s CoR is a full licence revocation, which the rubric assigns severity 5.

Impact

M/s Nocil Agents Pvt. Ltd. must stop conducting NBFC activities. Customers, counterparties, and anyone dealing with the company as a non-banking financial institution are affected because the company can no longer legally transact that business.

Regulatory Basis

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

Restrictions & Effective Timeline

Effective From: 11 Oct 2013

Affected Entities

M/s Nocil Agents Pvt. Ltd
Published as M/s Nocil Agents Pvt. Ltd.
NBFC · Primary

Official RBI Source

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