Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
3 Jun 2011
Case Brief
RBI cancelled the Certificate of Registration No. B-12.00270 granted to Sansun Leasing and Finance Private Ltd., Dehradun, for carrying on the business of a non-banking financial institution. The release says the company had voluntarily exited the business. The action was taken under Section 45-IA(6) of the RBI Act, 1934.
Why RBI Acted
The Reserve Bank of India cancelled Certificate of Registration No. B-12.00270, granted on December 18, 2000, to Sansun Leasing and Finance Private Ltd. for carrying on the business of a non-banking financial institution. The release states that the company had voluntarily exited from the business. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934.
Operating Impact
Sansun Leasing and Finance Private Ltd. can no longer transact the business of a non-banking financial institution. The cancellation has immediate forward effect and removes the company’s authority to operate as an NBFC.
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
- 2 May 2011
- Effective From
- 2 May 2011
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC