Reserve Bank cancels Certificate of Registration (CoR) of M/s. Unitara Finance Limited
Case Brief
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration issued to M/s. Unitara Finance Limited. The company had been authorised to operate as a Non-Banking Financial Institution. With the cancellation taking effect by order dated March 24, 2025, the company is no longer permitted to carry on that business under the Act.
The Reserve Bank of India cancelled Certificate of Registration No. B-03.00016 dated February 20, 1998 issued to M/s. Unitara Finance Limited under Section 45-IA(6) of the RBI Act, 1934. The order states that the company was registered to carry on the business of a Non-Banking Financial Institution, and following cancellation it cannot conduct that business under the Act.
Severity Assessment
Cancellation of the Certificate of Registration is a full license cancellation, which carries severity 5 regardless of any monetary amount.
M/s. Unitara Finance Limited must cease NBFC/Non-Banking Financial Institution activities. Customers and counterparties should expect the company to be unable to originate or continue regulated NBFC business after the cancellation date.
Published as M/s. Unitara Finance Limited
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