Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
2 Sept 2009
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s. Rajsee International Pvt. Ltd., whose registered office was at 70, Janpath (Second Floor), New Delhi-110015. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934. As a result, the company cannot transact the business of a non-banking financial institution.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Rajsee International Pvt. Ltd. under Section 45-IA(6) of the RBI Act, 1934. The release states that the company had been registered to carry on the business of a non-banking financial institution, and following cancellation it cannot transact that business.
Operating Impact
M/s. Rajsee International Pvt. Ltd. must stop carrying on non-banking financial institution business. The restriction affects the company directly and prevents it from undertaking NBFC activity going forward.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- clause (a) of Section 45-I of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 13 Aug 2009
- Effective From
- 13 Aug 2009
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC