Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
22 Oct 2008
Case Brief
On September 17, 2008, the Reserve Bank of India cancelled the Certificate of Registration of M/s. Black Partridge Holdings Private Limited, whose registered office was in New Delhi. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, on the ground that the company had voluntarily exited the business of a non-banking financial institution and had been wound up.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Black Partridge Holdings Private Limited under Section 45-IA(6) of the RBI Act, 1934. The stated reason was that the company had voluntarily exited from the business of a non-banking financial institution and had been wound up.
Operating Impact
The company can no longer transact the business of a non-banking financial institution. The action affects the entity itself and eliminates its ability to operate as an NBFC.
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
- 17 Sept 2008
- Effective From
- 17 Sept 2008
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC