Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
7 Feb 2014
Case Brief
RBI cancelled the Certificate of Registration No. 05.01939 dated May 2, 1998, issued to M/s Gaylord Ceramics Ltd., whose registered office was in Kolkata. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934, and the release says the company had voluntarily surrendered from carrying on non-banking financial institution activities.
Why RBI Acted
On November 11, 2013, RBI cancelled Certificate of Registration No. 05.01939 dated May 2, 1998, issued to M/s Gaylord Ceramics Ltd. under Section 45-IA(6) of the RBI Act, 1934. The release states that the cancellation was because the company had voluntarily surrendered from carrying on NBFI activities.
Operating Impact
M/s Gaylord Ceramics Ltd. can no longer transact the business of a non-banking financial institution. The restriction is final in effect unless separately restored through a fresh regulatory process.
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
- 11 Nov 2013
- Effective From
- 11 Nov 2013
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC