Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
15 Apr 2015
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of M/s Ramir Finance & Leasing Company Ltd., an NBFC based in Punjab, using its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not specify any additional factual findings or the precise misconduct leading to the cancellation.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Ramir Finance & Leasing Company Ltd., a non-banking financial company, in exercise of its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. No additional factual findings or conduct-specific violations are stated in the provided text.
Operating Impact
The company can no longer operate as an NBFC under its Certificate of Registration. Any ongoing NBFC business activities would be affected by the cancellation, subject to the legal consequences of the RBI order and applicable law.
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