Case Brief
On December 28, 2007, the Reserve Bank of India cancelled the Certificate of Registration granted to Gangeet Securities Limited, whose registered office was in Hyderabad. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, in relation to the company’s authority to carry on the business of a non-banking financial institution. As a result, Gangeet Securities Limited is no longer permitted to transact NBFC business.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Hyderabad, Telangana
- Order Date