Certificate of Registration Cancelled
Case Brief
The Reserve Bank of India notified that it had cancelled, as surrendered on September 19, 2002, the Certificate of Registration issued to Indian Finance and Factors Limited under Section 45-IA of the RBI Act, 1934. The entity was registered at Mylapore, Chennai, and was authorised to carry on non-banking financial institution business. Following the cancellation, the company is no longer permitted to transact such business.
The Reserve Bank of India cancelled, as surrendered on September 19, 2002, the Certificate of Registration No. 07.00379 dated November 25, 1998 issued to Indian Finance and Factors Limited under sub-section (6) of Section 45-IA of the RBI Act, 1934. The company had been registered to carry on the business of a non-banking financial institution, and the release states that it cannot thereafter transact that business as defined under Section 45-I(a).
Severity Assessment
Cancellation of a Certificate of Registration is a licence cancellation, which carries severity 5 regardless of any monetary amount.
Indian Finance and Factors Limited loses the legal ability to operate as a non-banking financial institution. Customers and counterparties should no longer treat it as authorised to undertake NBFC activities, and any such operations must cease.
Published as Indian Finance and Factors Limited
RegOversight structures the official RBI release for search and analysis. Use the linked release as the authoritative source.
© 2026 RegOversight by OddVector