RBI cancels Certificate of Registration of M/s Siva Credits Private Limited
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of M/s Siva Credits Private Limited, an NBFC, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release provides no additional factual allegations or amount, but the cancellation itself is a final adverse regulatory action.
The Reserve Bank of India cancelled the Certificate of Registration of M/s Siva Credits Private Limited, a non-banking financial company, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not state the factual trigger beyond the statutory cancellation action.
Severity Assessment
Cancellation of a Certificate of Registration is a full licensing action and is severity 5 regardless of any monetary amount.
M/s Siva Credits Private Limited can no longer operate as an NBFC under the cancelled registration. The action affects the company directly and may affect its customers and counterparties insofar as it must cease regulated NBFC activity under the cancelled CoR.
Published as M/s Siva Credits Private Limited
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