RBI cancels Certificate of Registration of M/s Margdarshak Financial Services Limited
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration (CoR) issued to M/s Margdarshak Financial Services Limited, which is identified as a non-banking financial company (NBFC). The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
The Reserve Bank of India cancelled the Certificate of Registration issued to M/s Margdarshak Financial Services Limited, a non-banking financial company, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
Severity Assessment
Cancellation of a Certificate of Registration is a severe licensing action and falls in severity 5.
The company can no longer operate as an NBFC under the cancelled CoR. Any lending or other NBFC activities requiring registration would have to stop unless separately permitted under law.
Published as M/s Margdarshak Financial Services Limited
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