Case Brief
The Reserve Bank of India, on February 6, 2004, cancelled the certificate of registration granted to Syal Finlease Limited, whose registered office was stated as 10, Netaji Market, G.T. Road, Panipat, Haryana, for carrying on the business of a non-banking financial institution. The release says that after cancellation, the company cannot transact the business of a non-banking financial institution. It also notes separate prohibitions on acceptance of deposits and alienation of assets under Section 45MB of the RBI Act, 1934.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- NBFC
- Location
- New Delhi, Haryana
- Order Date