Cancellation of Certificate of Registration of Asset Reconstruction Company
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of an Asset Reconstruction Company under Section 4(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The release excerpt does not identify the company by name or provide any additional factual allegations or rationale for the cancellation.
The Reserve Bank of India exercised its powers under Section 4(1) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 to cancel the Certificate of Registration of an Asset Reconstruction Company. The excerpt provided does not include the company name, city/state, or any additional reason beyond the cancellation itself.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence/registration cancellation, which carries severity 5.
The affected asset reconstruction company can no longer operate under its RBI registration. Any business dependent on the cancelled Certificate of Registration is прекращed going forward, subject to any separate legal or regulatory processes not described in the excerpt.
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