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NOF Default: Delhi HC Orders RBI to Reconsider NBFC Registration Cancellation
Case Law Details
- Case Name
- RBG Leasing And Credit Limited Vs Reserve Bank of India & Anr. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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RBG Leasing And Credit Limited Vs Reserve Bank of India & Anr. (Delhi High Court)
In the case of RBG Leasing And Credit Limited Vs Reserve Bank of India & Anr., the Delhi High Court addressed the cancellation of the petitioner’s Non-Banking Financial Company (NBFC) registration due to failure to meet the mandated Net Owned Fund (NOF) of Rs. 200 lakh by the specified deadline. The petitioner, an NBFC since May 2001, was subject to RBI’s regulatory framework, which required NBFCs to maintain an NOF of Rs. 100 lakh by March 2016 and Rs. 200 lakh by March 2017. Whi...
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