Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
1 Nov 2011
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s. J.P.S.K.Holdings Private Limited, whose registered office was in New Delhi, under Section 45-IA(6) of the RBI Act, 1934. The cancellation was for carrying on the business of a non-banking financial institution, and the release makes clear that after cancellation the company cannot transact NBFC business.
Why RBI Acted
RBI cancelled the Certificate of Registration of M/s. J.P.S.K.Holdings Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the company’s registration as a non-banking financial institution was cancelled, after which it cannot transact the business of a non-banking financial institution.
Operating Impact
M/s. J.P.S.K.Holdings Private Limited is prohibited from carrying on non-banking financial institution business from the date of cancellation. The action directly affects the company and prevents it from undertaking NBFC operations.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 7 Sept 2011
- Effective From
- 7 Sept 2011
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC