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HC upholds prohibitory order against Co. for accepting deposit without obtaining registration u/s 45-IA of RBI Act

June 21, 2021[2021] 127 taxmann.com 599 (Jharkhand)
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FEMA & BANKING : Where petitioner company had not obtained certificate of registration under section 45-IA of RBI Act, 1934, company could not be allowed to run activities by accepting deposit etc., and, therefore, prohibitory order passed by authority in pursuance to raid/enquiry conducted by concerned authority could not be faulted with

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