Case Brief
The Reserve Bank of India cancelled the certificate of registration of Ju Ju Finance & Leasing Ltd. on October 25, 2004 under Section 45IA of the RBI Act, 1934. As a result, the company can no longer carry on the business of a non-banking financial institution. RBI also prohibited the company from accepting deposits and from alienating its assets under Section 45MB. The company must still repay public deposits according to the contract terms.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, New Delhi
- Order Date