RBI cancels Certificate of Registration of M/s Avyaya Finance Ltd
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Avyaya Finance Ltd, an NBFC, for carrying on the business of a non-banking financial institution. This is a licence-cancellation action, so the company cannot continue NBFC operations.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Avyaya Finance Ltd, a non-banking financial company, for carrying on the business of a non-banking financial institution. As a result of the cancellation, the company is no longer permitted to transact NBFC business.
Severity Assessment
Cancellation of a Certificate of Registration is a license cancellation, which is severity 5 regardless of any monetary amount.
M/s Avyaya Finance Ltd must stop transacting the business of a non-banking financial institution. The cancellation affects the company directly and removes its ability to operate as an NBFC.
Published as M/s Avyaya Finance Ltd
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