Case Brief
The Reserve Bank of India cancelled the certificates of registration of 12 named companies under Section 45-IA(6) of the RBI Act, 1934 because they had opted to exit the business of a non-banking financial institution. The companies are no longer permitted to transact NBFC business, but must continue to repay any deposits, if any, as per the terms and conditions of the deposit contracts.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Kolkata, West Bengal
- Order Date