Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
3 Jun 2011
Case Brief
On April 19, 2011, the Reserve Bank of India cancelled the Certificate of Registration No. B-12.00198 granted to S.K.Capsec Private Limited for carrying on the business of a non-banking financial institution. The release says the cancellation was under Section 45-IA(6) of the RBI Act, 1934, and that the company had voluntarily exited the business. As a result, the company can no longer transact the business of a non-banking financial institution.
Why RBI Acted
The Reserve Bank of India cancelled Certificate of Registration No. B-12.00198, granted on July 26, 2000, to S.K.Capsec Private Limited under Section 45-IA(6) of the RBI Act, 1934. The release states that the cancellation was because the company had voluntarily exited from the business of a non-banking financial institution.
Operating Impact
S.K.Capsec Private Limited is no longer permitted to carry on NBFC business after the cancellation. The action fully removes its ability to transact as a non-banking financial institution, effective from the cancellation date stated in the release.
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
- 19 Apr 2011
- Effective From
- 19 Apr 2011
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC