RBI cancels Certificate of Registration of 30 NBFCs

Case Brief

In exercise of powers under Section 45-IA(6) of the Reserve Bank of India Act, 1934, the Reserve Bank of India cancelled the Certificate of Registration of 30 companies. The order covers the listed entities and, after cancellation, they cannot transact the business of a non-banking financial institution as defined in Section 45-I(a) of the RBI Act, 1934.