Case Brief
What Happened
On August 31, 2009, the Reserve Bank of India cancelled the Certificate of Registration granted to M/s. Anil Rai and Company Private Limited, whose registered office was at Jeevan Tara Building, 5-Parliament Street, New Delhi-110001. The cancellation was issued under Section 45-IA(6) of the RBI Act, 1934, for the company’s non-banking financial institution business. As a result, the company is no longer permitted to transact the business of a non-banking financial institution.