Case Brief
What Happened
The Reserve Bank of India cancelled the Certificate of Registration of four companies engaged in non-banking financial business: M/s. Peet Investment Private Limited, M/s. Parshuram Capital Services Limited, M/s. Changia Credit and Investment Private Limited, and M/s. Kaushambhi Finvest Lease Company Limited. The action was taken under Section 45-IA(6) of the RBI Act, 1934. The release says that once the registration certificate is cancelled, the companies cannot transact the business of a non-banking financial institution.