Case Brief
What Happened
RBI, acting under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of 32 companies. The release lists each affected company and states that, as a result, they shall not transact the business of a Non-Banking Financial Institution under Section 45-I(a) of the RBI Act, 1934.
Quick Facts
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Not specified
- Order Date
- Unknown date
- Effective From
- Unknown date
- Entities Affected
Why RBI Acted
The Reserve Bank of India exercised powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the Certificate of Registration (CoR) of 32 listed companies. Following cancellation, the companies shall not transact the business of a Non-Banking Financial Institution, as defined in Section 45-I(a) of the RBI Act, 1934.
Severity Assessment
Cancellation of Certificate of Registration is a complete licensing action with full operational prohibition, which falls in severity 5.
Impact
All 32 named companies are barred from carrying on NBFC business going forward. This affects their ability to undertake non-banking financial institution activities and requires them to cease such operations immediately from the cancellation date stated for each company.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I of the RBI Act, 1934
Affected Entities
- Mars Films Private LimitedNBFC · Bulk Member
Published as Mars Films Private Limited
- Assured Fin-Cap Private LimitedNBFC · Bulk Member
Published as Assured Fin-Cap Private Limited
- Amar Holdings Private LimitedNBFC · Bulk Member
Published as Amar Holdings Private Limited
- Believe Securities Private LimitedNBFC · Bulk Member
Published as Believe Securities Private Limited
Official RBI Source
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.