Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
8 Aug 2014
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s BNR Udyog Ltd, an NBFC, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. This is a licence-cancellation action and prevents the company from continuing as an RBI-registered NBFC.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s BNR Udyog Ltd, a non-banking financial company, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not provide additional factual grounds beyond the cancellation order itself.
Operating Impact
M/s BNR Udyog Ltd can no longer operate as an RBI-registered NBFC. The cancellation has immediate forward-looking impact on its NBFC business and any customers or counterparties relying on that registration.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC