Reserve Bank Cancels Certificate of Registration of Abhyudaya Investments Pvt. Ltd., Secundrabad
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Abhyudaya Investments Private Limited, whose registered office is in Secundrabad, Andhra Pradesh, on September 2, 2003. The cancellation was issued under Section 45IA of the RBI Act, 1934, which empowers RBI to cancel the registration certificate of a non-banking financial company. As a result, the company cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to Abhyudaya Investments Private Limited on September 2, 2003 under Section 45IA of the RBI Act, 1934. The release states that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Severity Assessment
Cancellation of a Certificate of Registration is a full licence/registration cancellation, which carries severity 5.
Abhyudaya Investments Private Limited is barred from carrying on non-banking financial institution business after the cancellation takes effect. The immediate operational impact is that it can no longer conduct NBFC activities; the release does not mention any deposit-taking or asset-alienation prohibition being separately imposed, only the registration cancellation.
Published as Abhyudaya Investments Private Limited
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