Case Brief
The Reserve Bank of India cancelled the certificate of registration issued to Manipal Finance Corporation Limited, whose registered office was at Manipal House, Manipal, Karnataka. The company had been carrying on the business of a non-banking financial institution. RBI said the cancellation was done under powers conferred by Section 45IA of the Reserve Bank of India Act, 1934, which governs registration and cancellation of NBFC certificates.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Bangalore, Karnataka
- Order Date