High Court Quashes Complaint Due to Typo Error in Minutes; Company Not a Registered NBFC at Relevant Time.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Prosecution proceedings - NBFC or not - Inadvertent/typographical error in recording of minutes - it was erroneously recorded in item no. 12 of the minutes that the company submitted application with the Reserve Bank of India for its deregistration as NBFC and registration as a CIC - however, the company was not a registered Non Banking Financial Company (NBFC) at the relevant time - Accepting the explanation of the company, The proceeding in respect of complaint quashed - HC....