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M/s Alps Motor Finance Limited

NBFCNew Delhi, Delhi

The RBI action, regulatory basis, and operating impact linked to this entity.

Recorded RBI impact

License cancellation

License cancellation · Fresh imposition

S5

Published by RBI

6 May 2009

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of six companies that had been registered to carry on the business of a non-banking financial institution. The action was taken under Section 45-IA(6) of the RBI Act, 1934. The named entities are M/s Alps Motor Finance Limited, M/s Alliance Techno Projects Ltd., M/s Rahul Finlease Private Limited, M/s Dwaraka Leasing Limited, M/s Abhivadan Capital Services (Pvt.) Limited, and M/s B.V.Leasing Limited, all with registered offices in New Delhi. Once the registration certificate is cancelled, the companies cannot transact NBFC business.

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the certificate of registration granted to six companies for carrying on the business of a non-banking financial institution. The cancellation was exercised under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, the companies are prohibited from carrying on NBFC business.

Operating Impact

All six companies are barred from carrying on the business of a non-banking financial institution. This affects their ability to originate or conduct NBFC activities, and any stakeholders relying on such services must cease doing so with these entities.

Regulatory Basis

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

Action Facts

Primary Impact
License cancellation
Order Date
25 Mar 2009
Effective From
25 Mar 2009
Entities Affected
6
Entity Role
Primary
Entity Type
NBFC

Related Entities

Entities similar to M/s Alps Motor Finance Limited

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  1. M/s Abhivadan Capital Services (Pvt.) Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  2. M/s Alliance Techno Projects Ltd

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  3. M/s B.V.Leasing Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  4. M/s Dwaraka Leasing Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction

  5. M/s Rahul Finlease Private Limited

    NBFC · New Delhi, Delhi

    1 shared action

    1 restriction