Case Brief
On August 13, 2009, the Reserve Bank of India cancelled the certificate of registration granted to Joyce Finance Pvt. Ltd., whose registered office was in Bangalore, for carrying on the business of a non-banking financial institution. The action was taken 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
- Bangalore, Karnataka
- Order Date