Case Brief
The Reserve Bank of India cancelled the certificate of registration of Shrilekha Hire Purchase Finance Limited on August 13, 2003. The company, an NBFC with its registered office in Secunderabad, had amalgamated with Pioneer Overseas Finance, Pondicherry, which was cited as the basis for the cancellation under Section 45IA of the RBI Act, 1934. Following the cancellation, the company cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Secunderabad, Telangana
- Order Date