Case Brief
What Happened
The Reserve Bank of India cancelled the Certificates of Registration of 27 companies under Section 45-IA(6) of the RBI Act, 1934. The release names each entity and provides the cancellation dates. Following cancellation, these companies are barred from transacting NBFC business as defined under the RBI Act.
Quick Facts
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Delhi, Delhi
- Order Date
- Unknown date
- Effective From
- Unknown date
- Entities Affected
Why RBI Acted
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the Certificate of Registration of 27 companies. The release lists each company and the respective date of cancellation. As a consequence, the companies shall not transact the business of a Non-Banking Financial Institution as defined in clause (a) of Section 45-I of the RBI Act, 1934.
Severity Assessment
Cancellation of Certificates of Registration is a full licensing action with immediate operational prohibition, which falls in severity 5.
Impact
All 27 named companies are prohibited from carrying on NBFC business going forward. Customers and counterparties should treat the registration status as cancelled, and the entities cannot undertake non-banking financial institution activities after the stated cancellation dates.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I of the RBI Act, 1934
Affected Entities
- Kamni Investment LimitedNBFC · Bulk Member
Published as Kamni Investment Limited
- MSR Securities Private LimitedNBFC · Primary
Published as MSR Securities Private Limited
- Lucky Capital Private LimitedNBFC · Bulk Member
Published as Lucky Capital Private Limited
- Naraini Gems and Investments LimitedNBFC · Bulk Member
Published as Naraini Gems and Investments Limited
Official RBI Source
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.