Case Brief
The Reserve Bank of India cancelled the Certificates of Registration of two non-banking financial companies: M/s Sampada Chemicals Limited and M/s Saakshi Securities Limited. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. Following the cancellation, the companies are barred from transacting the business of a non-banking financial institution as defined under clause (a) of Section 45-I of the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Mumbai, Maharashtra
- Order Date