Case Brief
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificates of Registration of 25 NBFCs named in the release. The order covers entities such as ABS Leasing & Financing (India) Limited, Akal Finlease Limited, Allepy Investment & Trading Co. Pvt. Ltd., and others listed in the notification. The cancellation means these companies are no longer permitted to transact the business of a Non-Banking Financial Institution under the RBI Act.