Case Brief
On October 29, 2007, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Malwa Mercantile Limited, New Delhi, which had its registered office at M-53, II Floor, M Block Market, Greater Kailash, New Delhi-110048. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934 for carrying on the business of a non-banking financial institution. The release makes clear that, after cancellation, the company cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date