Reserve Bank cancels Certificate of Registration (CoR) of Zavron Finance Private Limited due to irregular lending practices
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration issued to Zavron Finance Private Limited under Section 45-IA(6) of the RBI Act, 1934. This is a licensing action against an NBFC and results in the entity losing its registration to operate as an NBFC. The release title indicates the reason was irregular lending practices, though the body text only states the cancellation and the statutory basis.
The Reserve Bank of India, in exercise of powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration issued to Zavron Finance Private Limited, a Non-Banking Financial Company. The release title attributes the cancellation to irregular lending practices, but the body text itself only confirms the cancellation under Section 45-IA(6).
Severity Assessment
Cancellation of an NBFC’s Certificate of Registration is a severity-5 licensing action.
Zavron Finance Private Limited can no longer operate as an NBFC under its cancelled CoR. The company loses its regulatory permission to conduct NBFC business, and any ongoing lending or financial activities would need to cease or be wound down in line with applicable law.
Published as Zavron Finance Private Limited
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