Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of two non-banking financial companies: M/s S.R.F. Hire Purchase Pvt. Ltd. and M/s Mitter Finance Company Limited. The action was taken under Section 45-IA(6) of the Reserve Bank of India Act, 1934. As a result, the companies are barred from transacting business as non-banking financial institutions under Section 45-I(a) of the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Jalandhar, Punjab
- Order Date