Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of eight companies that were carrying on non-banking financial institution business. The cancellation was stated to be on supervisory grounds and was exercised under Section 45-IA(6) of the RBI Act, 1934. As a result, the affected companies are no longer permitted to transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Action Type
- License cancellation
- Order Date