Katariya Marketing & Financial Services Private Limited: RBI Enforcement History

Recorded RBI impact

License cancellation

License cancellation · Fresh imposition

Published by RBI

12 Sept 2018

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of 30 companies under Section 45-IA(6) of the RBI Act, 1934. The listed entities include companies such as Exken Finance Private Limited, Mandhana Finlease Private Limited, and others across Mumbai, Pune, Nagpur, Thane, Ahmednagar, and Navi Mumbai. Following the cancellation, these companies are prohibited from transacting the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.

Why RBI Acted

Licensing breach

In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, RBI cancelled the Certificate of Registration of 30 listed companies. The release states that, as a result, the above companies shall not transact the business of a Non-Banking Financial Institution as defined in clause (a) of Section 45-I of the RBI Act, 1934.

Operating Impact

The 30 named companies must stop carrying on NBFC business. This affects their ability to lend, finance, or otherwise operate as registered non-banking financial institutions, and may impact counterparties and customers relying on those services. No penalty amount is stated.

Regulatory Basis

Section 45-IA (6) of the Reserve Bank of India Act, 1934
Section 45-I(a) of the RBI Act, 1934

Action Facts

Primary Impact: License cancellation
Order Date: 3 Jul 2018
Effective From: 3 Jul 2018
Entities Affected: 30
Entity Role: Bulk Member
Entity Type: NBFC

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Katariya Marketing & Financial Services Private Limited

Case Brief

Why RBI Acted

Operating Impact

Regulatory Basis

Action Facts

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