Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Investment Trust of India Limited, Chennai, on 7 May 2004. RBI said the company had opted to exit from the business of a non-banking financial institution. The cancellation was made under Section 45IA(6) of the RBI Act, 1934, which allows RBI to cancel the registration certificate of an NBFC. Following the cancellation, the company cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Chennai, Tamil Nadu
- Order Date