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2022 (8) TMI 1318 - DELHI HIGH COURTCancellation of the Petitioner’s Certificate of Registration to carry on its business as a Non-Banking Financial Institution - Section 45-IA of the Reserve Bank of India Act, 1934 - HELD THAT:- The Court is informed that when the said Petitioner filed its statutory appeal, the Appellate Authority, vide order dated 11th February 2021, directed the RBI to review its order dated 8th June 2018 cancelling the ‘Certificate of Registration’ of the Petitioner. Pursuant thereto, RBI revoked the cancellation order. In light of the above, Mr. Ramesh Babu M.R., counsel for Respondent No. 3-RBI, on instructions and without prejudice to rights and contentions, states RBI shall re-examine the issue in case the matter is remanded back to them - In view of afore-noted stand, Mr Makhija states that Petitioner is agreeable to RBI re-examining the issue raised in the present petition. The Impugned Orders, i.e. the order dated 28th November 2018 passed by RBI, and order dated 29th June 2020 passed by the Appellate Authority, are set aside. The matter shall now be considered afresh by the RBI in light of the current position of law and the judgments of the court.
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