Failure to Meet Rs. 200 Lakh Net Owned Fund Mandate within Deadline: Delhi HC sets aside Cancellation of NBFC Registration [Read Order]
The Bench remanded the case to RBI for reconsideration in light of numerous similar matters adjudged by the Delhi High Court
By Avinash Kurungot - On September 7, 2024 4:15 pm - 2 mins read
The Delhi High Court in a recent decision set aside an Order passed by the Reserve Bank of India ( RBI ) cancelling the Certificate of Registration of a Non-Banking Financial Company on account of failing to accrue an amount of Rs.200 Lakh as their Net Owned Fund (NOF) within the Deadline set by RBI….
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