Case Brief
What Happened
The Reserve Bank of India issued directions to DFL Infrastructure Finance Ltd., Chennai, in public interest after inspecting its books, accounts, and other records as on March 31, 2013. Invoking Sections 45JA and 45L of the RBI Act, 1934, RBI prohibited the company from selling, transferring, creating charge or mortgage over, or otherwise dealing with its property and assets without prior written permission; from declaring or distributing any dividend; from transacting any business; and from incurring any further liabilities, until further orders.