Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of eight NBFCs under Section 45-IA(6) of the RBI Act, 1934. The affected entities are listed individually in the release, and the cancellation order dates range from January 23, 2017 to May 22, 2017. As a result, these companies 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
- Nawanshahar, Punjab
- Order Date