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M/s Malayalam Hire Purchase and Leasing (P) Ltd

NBFC

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

1 Aug 2014

Case Brief

The Reserve Bank of India cancelled the Certificate of Registration of M/s DSL Finance Pvt. Ltd. and M/s Malayalam Hire Purchase and Leasing (P) Ltd. These entities are non-banking financial institutions, and the cancellation was issued under clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Why RBI Acted

Licensing breach

The Reserve Bank of India cancelled the Certificate of Registration of two non-banking financial institutions: M/s DSL Finance Pvt. Ltd. and M/s Malayalam Hire Purchase and Leasing (P) Ltd. The cancellation was made under the powers conferred by clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

Operating Impact

The two NBFIs can no longer operate as RBI-registered non-banking financial institutions. Any business requiring the Certificate of Registration is affected immediately, and counterparties should treat the firms as no longer holding the licence.

Regulatory Basis

  • clause (a) of Section 45-I of the Reserve Bank of India Act, 1934

Action Facts

Primary Impact
License cancellation
Entities Affected
2
Entity Role
Bulk Member
Entity Type
NBFC

Related Entities

Entities similar to M/s Malayalam Hire Purchase and Leasing (P) Ltd

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  1. M/s DSL Finance Pvt. Ltd

    NBFC

    1 shared action

    1 restriction