Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
13 Jan 2005
Case Brief
On January 11, 2005, the Reserve Bank of India cancelled the Certificate of Registration issued to M/s. Goldline Capitals Limited, Hyderabad, authorising it to carry on the business of a non-banking financial institution. RBI invoked Section 45IA of the RBI Act, 1934, which empowers the central bank to cancel the registration certificate of a non-banking financial company.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration issued to M/s. Goldline Capitals Limited, Hyderabad, for carrying on the business of a non-banking financial institution. The press release cites Section 45IA of the Reserve Bank of India Act, 1934, under which RBI is empowered to cancel the registration certificate of an NBFC.
Operating Impact
The company can no longer carry on NBFC business under the cancelled registration. This removes its regulated permission to operate as a non-banking financial institution and affects its ability to conduct lending/finance activities as an NBFC. The effective date is January 11, 2005.
Regulatory Basis
- Section 45IA of the Reserve Bank of India Act, 1934
- clause (a) of Section 45IA of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 11 Jan 2005
- Effective From
- 11 Jan 2005
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC