Case Brief
On January 14, 2002, the Reserve Bank of India cancelled the certificate of registration of Ram Mohan Financial Services Ltd. under Section 45 IA(6) of the RBI Act, 1934. This means the company cannot operate as a non-banking financial institution. The release also states that the company is prohibited from accepting deposits under Section 45MB(1) and from alienating assets under Section 45MB(2) without prior RBI permission.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date