Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
18 Jul 2014
Case Brief
RBI has cancelled the Certificate of Registration of M/s Om Shridevi Finance and Leasing Limited, which is a non-banking financial company (NBFC), for carrying on the business of a non-banking financial institution. As a result, the company cannot transact non-banking financial institution business going forward.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Om Shridevi Finance and Leasing Limited, a non-banking financial company, for carrying on the business of a non-banking financial institution. The release states that following cancellation of the registration certificate, the company cannot transact the business of a non-banking financial institution.
Operating Impact
The company is barred from carrying on NBFC business after the cancellation. Customers and counterparties should treat the firm as no longer authorised to conduct non-banking financial institution activities.
Action Facts
- Primary Impact
- License cancellation
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC