Case Brief
What Happened
On February 05, 2009, the Reserve Bank of India cancelled the Certificate of Registration of M/s. Kasturi Leasing & Financial Services Ltd. for carrying on the business of a non-banking financial institution. The press release says the company had voluntarily exited from the business, and RBI exercised its powers under Section 45-IA(6) of the RBI Act, 1934 to cancel the registration. As a result, the company can no longer transact the business of a non-banking financial institution.