Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
2 Apr 2008
Case Brief
On March 12, 2008, the Reserve Bank of India cancelled the Certificate of Registration of Janki Hire Leasing & Financiers Pvt. Limited, whose registered office is in Kanpur, under Section 45-IA(6) of the RBI Act, 1934. The order means the company cannot transact the business of a non-banking financial institution anymore. No specific underlying violation is stated in the text.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration granted to Janki Hire Leasing & Financiers Pvt. Limited under Section 45-IA(6) of the RBI Act, 1934. The release does not state any specific misconduct; it only states that the registration certificate was cancelled, after which the entity cannot transact the business of a non-banking financial institution.
Operating Impact
The company is barred from continuing NBFC activities after the cancellation. Customers and counterparties should no longer treat it as authorised to conduct non-banking financial institution business. The action takes effect from March 12, 2008.
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
- 12 Mar 2008
- Effective From
- 12 Mar 2008
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC