Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
9 Sept 2004
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Dalia Securities Limited, whose registered office is in Hyderabad, on September 7, 2004. The action was taken under Section 45IA of the RBI Act, 1934. As a result, 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. Dalia Securities Limited, Hyderabad, on September 7, 2004. The release states that the cancellation was under Section 45IA of the RBI Act, 1934, and that, following cancellation, the company cannot transact the business of a non-banking financial institution.
Operating Impact
M/s. Dalia Securities Limited is prohibited from carrying on NBFC business after the cancellation. The immediate impact is on the company’s ability to operate as a regulated non-banking financial institution; customers and counterparties should not treat it as authorised to conduct such business.
Regulatory Basis
- Section 45IA of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 7 Sept 2004
- Effective From
- 7 Sept 2004
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC