Case Brief
The Reserve Bank of India, exercising powers under Section 45-IA(6) of the RBI Act, 1934, cancelled the Certificate of Registration of Scotia Finance Private Limited, New Delhi, on January 30, 2003. The release states that the cancellation followed the company’s decision to exit the business of a non-banking financial institution. After the cancellation, the company is not permitted to carry on NBFC business under the RBI Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Delhi
- Order Date