RBI cancels Certificate of Registration
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of the following non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. However, the provided excerpt stops at 'Sr. No.' and does not include the list of companies or any detailed reasons for the action.
The Reserve Bank of India cancelled the Certificate of Registration of the following non-banking financial companies (NBFCs) in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The supplied text excerpt is truncated after 'Sr. No.' and does not include the names of the affected NBFCs or the factual reasons behind the cancellations.
Severity Assessment
Cancellation of a Certificate of Registration is a full licensing action and carries severity 5 regardless of any monetary amount.
The affected NBFC(s) can no longer operate under the cancelled registration and would lose their ability to conduct NBFC business unless separately restored through the applicable legal process. The release does not specify any deadlines or additional obligations.
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