Case Brief
The Reserve Bank of India said two NBFCs surrendered their Certificates of Registration, and RBI accordingly cancelled the CoRs under Section 45-IA(6) of the RBI Act, 1934. The entities listed are M/s Fedder Tieup Private Limited (presently Savi Media World Limited) and M/s High Seas Traders Private Limited, both based in Kolkata. Following cancellation, they cannot transact the business of a non-banking financial institution as defined under the RBI Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Kolkata, West Bengal
- Order Date