Case Brief
The Reserve Bank of India cancelled the Certificate of Registration of Kalpavriksha Industries Ltd. (formerly Orchaltree Leasing & Financing Ltd.) on November 13, 2003 under Section 45-IA of the RBI Act, 1934. The company, which had been carrying on non-banking financial institution business from Mumbai/Thane, is therefore barred from transacting NBFC business as defined in the Act.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- Mumbai, Maharashtra
- Order Date