Case Brief
The Reserve Bank of India cancelled the certificate of registration of Four Square Leasing and Finance Limited, Chennai, on July 14, 2003. The cancellation was issued under Section 45IA of the RBI Act, 1934, for carrying on NBFC business. Following the cancellation, the company cannot conduct non-banking financial institution business. RBI also prohibited it from accepting deposits and from alienating its assets under Section 45MB(1) and 45MB(2).
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Chennai, Tamil Nadu
- Order Date