Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
22 Jan 2014
Case Brief
On December 18, 2013, the Reserve Bank of India cancelled the Certificate of Registration (CoR) No. N-09.00432 issued to Matrix Enport Holdings Private Limited, whose registered office was in Secunderabad. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, the company cannot transact the business of a non-banking financial institution.
Why RBI Acted
The Reserve Bank of India cancelled CoR No. N-09.00432 issued to Matrix Enport Holdings Private Limited. The release cites Section 45-IA(6) of the RBI Act, 1934, under which RBI may cancel the registration certificate of a non-banking financial company. As a consequence of the cancellation, the company is no longer permitted to carry on NBFC business.
Operating Impact
Matrix Enport Holdings Private Limited must stop carrying on NBFC activities. The restriction removes its authority to operate as a non-banking financial institution, affecting any customers or counterparties relying on its NBFC services.
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
- 18 Dec 2013
- Effective From
- 18 Dec 2013
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC