Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
29 May 2025
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s N.Y.Leasing Private Limited under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release identifies the entity as a Non-Banking Financial Company and the title states that the action was taken due to irregular lending practices. No monetary penalty is mentioned in the provided text.
Why RBI Acted
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration issued to M/s N.Y.Leasing Private Limited, a Non-Banking Financial Company. The release text provided does not specify the detailed factual findings, but the headline states the cancellation was due to irregular lending practices.
Operating Impact
The company can no longer operate as an NBFC under the cancelled registration. Any ongoing lending or financial activities that depended on the CoR are effectively बाधित, and counterparties and customers should not rely on the entity’s NBFC status going forward.
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