Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
18 Nov 2014
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of M/s Siva Credits Private Limited, an NBFC, under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release provides no additional factual allegations or amount, but the cancellation itself is a final adverse regulatory action.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration of M/s Siva Credits Private Limited, a non-banking financial company, in exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934. The release does not state the factual trigger beyond the statutory cancellation action.
Operating Impact
M/s Siva Credits Private Limited can no longer operate as an NBFC under the cancelled registration. The action affects the company directly and may affect its customers and counterparties insofar as it must cease regulated NBFC activity under the cancelled CoR.
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