RBI cancels Certificate of Registration of one NBFC
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of one NBFC under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The provided text does not include the company name or any underlying factual allegations, only the statutory basis for cancellation.
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of the NBFC mentioned in the release. The text provided does not state the company name or any additional factual basis beyond the statutory cancellation order.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence cancellation, which carries severity 5.
The affected NBFC can no longer operate as a registered NBFC. Any ongoing lending or other regulated financial activity under that registration must stop, subject to any separate legal or winding-up requirements.
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