Case Brief
What Happened
On July 20, 2007, the Reserve Bank of India cancelled the certificate of registration of SSJ Finance & Securities (P) Limited, which was registered to carry on the business of a non-banking financial institution. The release says the company had opted to exit that business, and RBI exercised its powers under Section 45-IA(6) of the RBI Act, 1934. Following the cancellation, SSJ Finance & Securities (P) Limited is no longer permitted to transact the business of a non-banking financial institution.