Cancellation of Certificate of Registration of NBFCs on supervisory ground
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of the following company or companies under Section 45-IA(6) of the RBI Act, 1934. This is a supervisory action that removes the entity's authorisation to operate as an NBFC. The provided text does not specify the underlying supervisory failings beyond that basis.
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 listed company/companies on supervisory grounds. The release does not provide the specific supervisory deficiencies in the excerpt provided.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence cancellation, which carries severity 5.
The affected NBFC(s) can no longer operate under their certificate of registration. Any ongoing NBFC activity must stop, and counterparties should treat the entity as no longer authorised; the release excerpt does not specify any transition deadline or further conditions.
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