Case Brief
On May 20, 2008, the Reserve Bank of India cancelled the Certificate of Registration of Microland Investments Private Limited, whose registered office was at No.1B, Ecospace, Belandur Outer Ring Road, Bangalore. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, after the company opted to exit the business of a non-banking financial institution. As a result, the company cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Bangalore, Karnataka
- Order Date