Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to Mahagauri Investments Ltd., whose registered office was in Worli, Mumbai, 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 is no longer permitted to transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Mumbai, Maharashtra
- Order Date