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. This is a licence-cancellation action against an NBFC. The release does not disclose the specific conduct or breach that led to the 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 company. The release does not provide additional facts about the underlying contraventions or operational lapses.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence cancellation, which carries severity 5 regardless of any monetary amount.
The entity can no longer operate as an RBI-registered NBFC. Any continuing business would be subject to the legal consequences of having its Certificate of Registration cancelled, and counterparties should treat the firm as having lost its NBFC authorisation.
Published as One NBFC
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