Case Brief
What Happened
The Reserve Bank of India cancelled the certificates of registration of four companies under Section 45-IA(6) of the RBI Act, 1934. The companies are M/s Piyush Finhold Private Limited, M/s Marryl Invetment Company Private Limited, M/s S.I.S. Finlease (India) Limited, and M/s Khandelwal Securities Limited, all with registered offices in New Delhi. The release says that following cancellation of the registration certificate, these companies cannot transact the business of a non-banking financial institution. Two of the cancellations are described as voluntary exits.