Case Brief
On September 20, 2004, the Reserve Bank of India cancelled the Certificate of Registration of New Line Finance Limited, whose registered office was in Egmore, Chennai. The release says the company had opted to exit the business of a non-banking financial institution. Acting under Section 45IA of the RBI Act, 1934, RBI cancelled the registration certificate, and as a result the company cannot transact NBFC business anymore.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Chennai, Tamil Nadu
- Order Date