Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
18 Nov 2014
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of M/s Emergy Finance & Investments Limited, a non-banking financial company, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. This is a licence-cancellation action against the NBFC.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of the NBFC, M/s Emergy Finance & Investments Limited, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934.
Operating Impact
The company can no longer operate as an NBFC under the cancelled registration. Any financial activities requiring that registration must cease, and the action directly affects the company and its counterparties as applicable.
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