RBI’s Deputy Governor N.S Vishwanathan said that there is adequate liquidity facility in the...
The reserve bank of India is empowered by the RBI Act to cancel the NBFC License granted to a company, the major reason was of not meeting the public interest at large. In 2018 more than 4000 NBFC License has been canceled by the RBI due to a shortfall in NOF.
Madras high court Judgement on dated 29-01-2019 is a big relief to more than 2000+ NBFC license has been canceled merely because there was a delay in fulfilling the minimum Net owned fund of Rs. 2 Cr. Read Full judgment.
You can also download Madras High Court Judgement on NBFC License
Cancellation in the PDF format.