Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Abhyudaya Investments Private Limited, whose registered office is in Secundrabad, Andhra Pradesh, on September 2, 2003. The cancellation was issued under Section 45IA of the RBI Act, 1934, which empowers RBI to cancel the registration certificate of a non-banking financial company. As a result, the company cannot transact the business of a non-banking financial institution.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Secundrabad, Andhra Pradesh
- Order Date