Case Brief
What Happened
On November 5, 2007, the Reserve Bank of India cancelled the certificate of registration granted to M/s. V.P.Fincap Private Limited, New Delhi, whose registered office was at C-131, SFS Flats, Sector-19, Rohini, New Delhi-110085. The cancellation was issued under Section 45-IA(6) of the Reserve Bank of India Act, 1934, in relation to its authority to carry on the business of a non-banking financial institution. As a result, the company cannot transact NBFC business anymore.