Case Brief
The Reserve Bank of India cancelled the certificates of registration of two non-banking financial companies: M/s Hero Financial Services Limited and M/s Beeru Brothers Finance Limited. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934. As a result, the companies are no longer permitted to carry on or transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date