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HC upholds RBI's action in cancelling certificate of registration of NBFC for not achieving required Net owned fund

January 7, 2021[2021] 123 taxmann.com 11 (Delhi)
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FEMA, BANKING & INSURANCE : Where petitioner, a NBFC company, failed to achieve Net Owned Fund (NOF) as required by RBI even after two years, RBI was justified in cancelling certificate of registration (CoR) of petitioner-company

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