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M/s Hotz Industries Ltd

NBFCNew Delhi, Delhi

The RBI action, regulatory basis, and operating impact linked to this entity.

Recorded RBI impact

License cancellation

License cancellation · Fresh imposition

S5

Published by RBI

29 Apr 2015

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of M/s Hotz Industries Ltd., a non-banking financial company based in New Delhi. The cancellation was made under Section 45-IA(6) of the Reserve Bank of India Act, 1934.

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration of M/s Hotz Industries Ltd., a non-banking financial company, in exercise of its 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 its RBI registration. Any NBFC activities must stop unless and until a fresh authorization or other lawful arrangement is obtained.

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