Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Ganga General Finance Ltd. on March 26, 2002 under Section 45-IA(6) of the RBI Act, 1934. The cancellation was made after the company requested it, stating that it had decided to stop its non-banking finance business. Following the cancellation, the company cannot carry on the business of a non-banking financial institution and is also prohibited from accepting deposits and from alienating assets under Section 45MB(1) and 45MB(2).
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Coimbatore, Tamil Nadu
- Order Date