Case Brief
On January 19, 2009, the Reserve Bank of India cancelled the Certificate of Registration of M/s. Nilanshu Hire Purchase Ltd., whose registered office was at Ayodhya Nagar, Ujhani, Budaun. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, on the ground that the company had voluntarily exited the business of a non-banking financial institution. As a result, the company cannot transact NBFC business going forward.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Ujhani, Budaun
- Order Date