Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
25 Nov 2004
Case Brief
On November 22, 2004, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s BRR Leafin Private Limited, whose registered office was in Hyderabad, under Section 45-IA of the RBI Act, 1934. The release says that after the cancellation, the company cannot transact the business of a non-banking financial institution.
Why RBI Acted
The Reserve Bank of India cancelled the certificate of registration granted to M/s BRR Leafin Private Limited under Section 45-IA of the RBI Act, 1934. The release states that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Operating Impact
M/s BRR Leafin Private Limited is barred from carrying on non-banking financial institution business from the cancellation date. This directly affects the company’s operations and any customers or counterparties relying on its NBFC activities.
Regulatory Basis
- Section 45-IA of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 22 Nov 2004
- Effective From
- 22 Nov 2004
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC