Reserve Bank Cancels Certificate of Registration of Abhay Investments Pvt. Ltd., Secundrabad
Case Brief
On September 8, 2003, the Reserve Bank of India cancelled the Certificate of Registration granted to Abhay Investments Private Limited, whose registered office is in Secundrabad, Andhra Pradesh. The order was issued under Section 45IA of the RBI Act, 1934. As a result, Abhay Investments Private Limited cannot transact the business of a non-banking financial institution.
The Reserve Bank of India cancelled the Certificate of Registration granted to Abhay Investments Private Limited 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. No separate misconduct details are provided in the text.
Severity Assessment
Cancellation of a Certificate of Registration is a full license cancellation, which carries severity 5 regardless of any additional context.
Abhay Investments Private Limited is prohibited from carrying on NBFC business after the cancellation. The order directly affects the company and its customers/counterparties by ending its ability to operate as a non-banking financial institution.
Published as Abhay Investments Private Limited
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