Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
8 Nov 2007
Case Brief
On October 22, 2007, the Reserve Bank of India cancelled the certificate of registration granted to M/s. Sarv Finvest Limited, New Delhi, under Section 45-IA(6) of the RBI Act, 1934. The entity was registered at F-207, Sikka Mansion, 5 LSC Savita Vihar, New Delhi-110092. Following the cancellation, the company is not permitted to carry on or 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. Sarv Finvest Limited, New Delhi under Section 45-IA(6) of the RBI Act, 1934. The release states that the company’s registration was cancelled for carrying on the business of a non-banking financial institution, and as a result it can no longer transact that business.
Operating Impact
M/s. Sarv Finvest Limited must stop conducting NBFC business. Customers and counterparties should no longer expect the firm to originate or run non-banking financial institution activities after the cancellation date.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
- Section 45-I of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 22 Oct 2007
- Effective From
- 22 Oct 2007
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC