Case Brief
On August 7, 2008, the Reserve Bank of India cancelled the certificate of registration of M/s. Chartered Finance Management Limited, whose registered office was in Mumbai. The company had been carrying on the business of a non-banking financial institution but had opted to exit that business. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934. 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
- Mumbai, Maharashtra
- Order Date