RBI cancels Certificate of Registration of 2 NBFCs
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of two non-banking financial companies under Section 45-IA(6) of the RBI Act, 1934. The affected entities are M/s Deep Capital Services Private Limited, Ahmedabad, and M/s DFL Infrastructure Finance Limited, Chennai. As a result, both companies are barred from transacting the business of a non-banking financial institution under the RBI Act.
The Reserve Bank of India cancelled the Certificate of Registration of two non-banking financial companies in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The companies listed are M/s Deep Capital Services Private Limited and M/s DFL Infrastructure Finance Limited. Following cancellation, they are no longer permitted to transact the business of a non-banking financial institution as defined under clause (a) of Section 45-I of the RBI Act, 1934.
Severity Assessment
Cancellation of a Certificate of Registration is a severity-5 license cancellation action.
Both NBFCs must stop carrying on non-banking financial business. Customers, counterparties, and other stakeholders should not expect them to continue operating as registered NBFCs after the cancellation dates.
Published as M/s DFL Infrastructure Finance Limited
Published as M/s Deep Capital Services Private Limited
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