Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
11 Jul 2014
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Avyaya Finance Ltd, an NBFC, for carrying on the business of a non-banking financial institution. This is a licence-cancellation action, so the company cannot continue NBFC operations.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Avyaya Finance Ltd, a non-banking financial company, for carrying on the business of a non-banking financial institution. As a result of the cancellation, the company is no longer permitted to transact NBFC business.
Operating Impact
M/s Avyaya Finance Ltd must stop transacting the business of a non-banking financial institution. The cancellation affects the company directly and removes its ability to operate as an NBFC.
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC