Cancellation of the certificate of registration
Case Brief
The Reserve Bank of India cancelled the certificate of registration of Trans India Financial Services Limited under Section 45 IA(6) of the RBI Act, 1934. The order means the company cannot continue business as a non-banking financial institution. RBI also prohibited the company from accepting deposits and from alienating assets under Sections 45MB(1) and 45MB(2), respectively, though it remains obligated to repay public deposits as per the deposit contract terms.
The Reserve Bank of India cancelled the certificate of registration issued to Trans India Financial Services Limited on August 13, 2002 under Section 45 IA(6) of the RBI Act, 1934. As a result, the company can no longer transact the business of a non-banking financial institution. The release further states that the company is prohibited from acceptance of deposits under Section 45MB(1) and from alienation of assets under Section 45MB(2), while remaining obligated to repay public deposits according to the contract terms.
Severity Assessment
Cancellation of a certificate of registration is a license cancellation, which carries severity 5.
The company must cease NBFC operations and cannot accept fresh deposits or transfer/alienate assets. Public depositors remain entitled to repayment according to the contractual terms of their deposits.
Published as Trans India Financial Services Limited
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector