Case Brief
On September 14, 2005, the Reserve Bank of India cancelled the Certificate of Registration granted to Pondicherry Nidhi Limited, whose registered office was in Pondichery. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934, because the entity was carrying on the business of a non-banking financial institution. As a result, Pondicherry Nidhi Limited cannot transact that business going forward.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Pondichery
- Order Date