Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
16 Jun 2014
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s HCG Investment & Impex Ltd for carrying on the business of a non-banking financial institution. This is a licence cancellation affecting the NBFC’s ability to conduct its regulated business.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s HCG Investment & Impex Ltd, a non-banking financial company (NBFC), for carrying on the business of a non-banking financial institution. As a result of the cancellation, the company cannot transact the business of a non-banking financial institution.
Operating Impact
M/s HCG Investment & Impex Ltd can no longer transact the business of a non-banking financial institution. The action is directed at the company alone and has immediate operating consequences.
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC