Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Savera Credits Limited on July 27, 2007. The company, which had its registered office at 179, Delhi Road, Meerut, had voluntarily surrendered Certificate of Registration No. B.12.00285 dated July 26, 2006. RBI invoked Section 45-IA(6) of the Reserve Bank of India Act, 1934 for the cancellation. Following this action, Savera Credits Limited cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Meerut, Uttar Pradesh
- Order Date