Case Brief
On January 07, 2010, the Reserve Bank of India cancelled the Certificate of Registration of M/s. Karam Chand Thapar & Bros Limited, based in New Delhi, for carrying on the business of a non-banking financial institution. RBI said the cancellation was under Section 45-IA(6) of the RBI Act, 1934, and that the company had voluntarily exited the business. As a result, the company can no longer transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date