Case Brief
The Reserve Bank of India cancelled the certificate of registration of three companies: M/s. Dipco Ltd., Khaitan Estates Pvt. Ltd., and Ratanpura Trading Ltd. The order was issued under Section 45-IA(6) of the RBI Act, 1934. RBI said the companies had opted to exit the business of a non-banking financial institution. Following cancellation, they cannot carry on NBFC business, although they must still repay deposits, if any, according to the contract terms.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Kolkata, West Bengal
- Order Date