Case Brief
The Reserve Bank of India notified that, exercising powers under Section 45-IA(6) of the RBI Act, 1934, it had cancelled as surrendered the Certificate of Registration issued to Capital Fortunes Ltd., Hyderabad. The registration had authorised the company to conduct non-banking financial institution business. With the cancellation in effect, the company is prohibited from transacting NBFC business under the RBI Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Hyderabad, Telangana
- Order Date