Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
12 Sept 2023
Case Brief
The Reserve Bank of India has cancelled the Certificate of Registration of One NBFC under Section 45-IA(6) of the Reserve Bank of India Act, 1934. This is a licence-cancellation action against an NBFC. The release does not disclose the specific conduct or breach that led to the cancellation.
Why RBI Acted
The Reserve Bank of India exercised its powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934 to cancel the Certificate of Registration of the company. The release does not provide additional facts about the underlying contraventions or operational lapses.
Operating Impact
The entity can no longer operate as an RBI-registered NBFC. Any continuing business would be subject to the legal consequences of having its Certificate of Registration cancelled, and counterparties should treat the firm as having lost its NBFC authorisation.
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