Case Brief
On January 15, 2009, the Reserve Bank of India cancelled the Certificate of Registration granted to State Industries Promotion Corporation of Tamilnadu Ltd., whose registered office was in Egmore, Chennai. The cancellation was made under Section 45-IA(6) of the RBI Act, 1934, after the company chose to exit the business of a non-banking financial institution. Following the cancellation, the company is not permitted to transact NBFC business.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Chennai, Tamil Nadu
- Order Date