Case Law Analysis
|Calcutta High Court
Section 45-IA(6)(i) RBI Act | NBFC Voluntary Surrender Cannot Be Denied Without Opportunity to Comply with PBC: Calcutta HC
The Calcutta High Court has ruled that the RBI cannot reject an NBFC’s application for voluntary surrender without first giving it a fair chance to meet its Principal Business Criteria, reinforcing that regulatory exit must follow statutory procedure, not administrative fiat. This sets a critical precedent for all NBFCs seeking orderly wind-down without punitive compliance traps.