Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
19 Sept 2005
Case Brief
The Reserve Bank of India cancelled the certificate of registration of Golden Loan Park Investors Private Limited on September 6, 2005. The company, based in Muvattapuzha/Muvattupuzha, had been granted registration to carry on the business of a non-banking financial institution. Acting under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the registration certificate, which means the company cannot transact NBFC business going forward.
Why RBI Acted
On September 6, 2005, the Reserve Bank of India cancelled the certificate of registration granted to Golden Loan Park Investors Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states the company was registered to carry on the business of a non-banking financial institution and, following cancellation, it cannot transact that business.
Operating Impact
Golden Loan Park Investors Private Limited is prohibited from carrying on non-banking financial institution business after the cancellation. This directly affects the company’s ability to operate as an NBFC and would impact any customers, counterparties, or ongoing NBFC activities tied to that registration.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- clause (a) of Section 45-I of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 6 Sept 2005
- Effective From
- 6 Sept 2005
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC