RBI cancels Certificate of Registration of 135 NBFCs

Case Brief

In exercise of powers under Section 45-IA(6) of the RBI Act, 1934, the Reserve Bank of India cancelled the Certificate of Registration of 135 companies listed in the press release. The release names each affected company and states that, following cancellation, these entities shall not transact the business of a Non-Banking Financial Institution as defined in Section 45-I(a) of the RBI Act, 1934.