Case Brief
The Reserve Bank of India cancelled the licence of Astha Corporation Private Limited, located in Sanathnagar, Hyderabad, for carrying on business as a non-banking financial institution. The release states that the licence was cancelled as surrendered on May 21, 2003, and that the cancellation was made under Section 45-1A(6) of the RBI Act, 1934. In addition, the company was prohibited from accepting deposits from the public under Section 45MB(1) and from alienating assets under Section 45MB(2) of the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Hyderabad, Telangana
- Order Date