Case Brief
The Reserve Bank of India, by order dated February 25, 2010, cancelled the Certificate of Registration of Saibala Credits Private Limited, Chennai, which had been granted for carrying on the business of a non-banking financial institution. The release says the company chose to exit the business, and the cancellation was made under Section 45-IA(6) of the RBI Act, 1934. As a result, the company is no longer permitted to transact NBFC business.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Chennai, Tamil Nadu
- Order Date