Certificate of Registration Cancelled
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of DCL Finance Limited, Hyderabad, on December 24, 2002, under Section 45-IA(6) of the RBI Act, 1934. The company had been registered to carry on the business of a non-banking financial institution. Following the cancellation, it cannot transact NBFC business.
The Reserve Bank of India cancelled, on December 24, 2002, the Certificate of Registration issued to DCL Finance Limited under Section 45-IA(6) of the RBI Act, 1934. The company had been authorised to carry on the business of a non-banking financial institution, and the cancellation means it can no longer transact that business as defined under Section 45I(a) of the Act.
Severity Assessment
Certificate of Registration cancellation is a severe licensing action and is always severity 5.
DCL Finance Limited must stop carrying on non-banking financial institution activities. Customers and counterparties should no longer treat it as authorised to conduct NBFC business, and any such operations would be unauthorised after the cancellation date.
Published as DCL Finance Limited
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