Case Brief
The Reserve Bank of India cancelled, as surrendered, the registration certificate of Vulcan Leasing and Investments Limited, Bangalore, for carrying on business as a non-banking financial institution. RBI said the company had opted to exit the NBFC business, and the cancellation was made under Section 45-1A(6) of the RBI Act, 1934. The release also notes that the company has been prohibited from acceptance of deposits from the public under Section 45MB(1).
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Bangalore, Karnataka
- Order Date