Case Brief
The Reserve Bank of India cancelled the Certificate of Registration granted to Shyamram Financial Services Pvt. Ltd. for carrying on the business of a non-banking financial institution. The release cites Section 45-IA(6) of the RBI Act, 1934 as the statutory basis. As a result, the company cannot transact the business of a non-banking financial institution from the cancellation date.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Bangalore, Karnataka
- Order Date