Case Brief
RBI imposed a monetary penalty on M/s Sun Corporate Services Pvt. Ltd. (presently known as M/s Mamata Group Corporate Services Pvt. Ltd.), based in Ahmedabad, Gujarat, under section 58-G of the RBI Act, 1934. The company was found to have violated RBI instructions by making overseas investment without obtaining the required No Objection Certificate and by seeking a change of name from the Registrar of Companies without prior RBI permission.
Action Snapshot
- Primary Impact
- Fine: Rs 5.00 L
- Entity Type
- Other
- Location
- Ahmedabad, Gujarat
- Order Date