Certificate of Registration Cancelled
Case Brief
The Reserve Bank of India notified that it had cancelled, as surrendered on October 28, 2002, the Certificate of Registration issued to Amaravathi Finance Private limited, Vadapalani, Chennai, under Section 45-IA(6) of the RBI Act, 1934. The registration had permitted the company to carry on non-banking financial institution business. Following the cancellation, the company is no longer permitted to transact that business.
Under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration issued to Amaravathi Finance Private limited, Chennai, as surrendered on October 28, 2002. The company had been authorised to carry on the business of a non-banking financial institution, and after cancellation it cannot transact that business as defined under Section 45 I(a).
Severity Assessment
Cancellation of a Certificate of Registration is a full licence cancellation, which is severity 5.
Amaravathi Finance Private limited loses its RBI registration and cannot carry on non-banking financial institution business going forward. Customers and counterparties should not treat it as authorised to undertake NBFC activity.
Published as Amaravathi Finance Private limited
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