Recorded RBI impact
License cancellation
License cancellation · Fresh imposition
Published by RBI
6 Dec 2005
Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of TVS Investments Ltd., Chennai, under Section 45-IA(6) of the RBI Act, 1934. The release says the company had opted to exit the business of a non-banking financial institution. This means the firm can no longer carry on NBFC business under the cancelled registration.
Why RBI Acted
The Reserve Bank of India cancelled the Certificate of Registration issued to TVS Investments Ltd., Chennai, under Section 45-IA(6) of the RBI Act, 1934. The release states that the cancellation was because the company had opted to exit from the business of a non-banking financial institution.
Operating Impact
TVS Investments Ltd. must cease operating as a registered non-banking financial company. The cancellation affects the company’s ability to conduct NBFC business going forward, and any related business activity must stop unless undertaken under another valid regulatory permission.
Regulatory Basis
- Section 45-IA (6) of the Reserve Bank of India Act, 1934
Action Facts
- Primary Impact
- License cancellation
- Order Date
- 25 Nov 2005
- Effective From
- 25 Nov 2005
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- NBFC