Social Leasing India Limited v. Union of India and Anr.
Case brief
What is this about?
Social Leasing India Limited v. Union of India & Anr.; High Court of Delhi; W.P.(C) 10471/2020; Vikas Mahajan, J.; decided 11.09.2025; cancellation of Certificate of Registration (CoR) by RBI order dated 26.10.2018 under Section 45-IA (6) of Reserve Bank of India Act, 1934; Net Owned Fund (NOF) Rs.200 lacs as on 31.03.2017; show cause notice 01.06.2018, reply 20.06.2018; Appellate Authority order set aside; matter remitted to RBI for afresh consideration (eight weeks; additional documents/material within two weeks; without prejudice); precedents relied on: RBG Leasing and Credit Limited v. RBI, 2024 SCC OnLine Del 6222 (04.09.2024) and M/S Alpine Finlease LTD. v. RBI, 2024 SCC OnLine Del 8781 (12.12.2024); CM APPL. 57367/2025 under Section 151 CPC for early hearing allowed and disposed; previously fixed date 21.11.2025 cancelled.
What did the court decide?
Setting aside of respondent no.2/RBI's order dated 26.10.2018 cancelling the Certificate of Registration and of the subsequent order of the Appellate Authority; remittal of the matter to RBI for consideration afresh, with RBI to decide within eight weeks on the basis of material produced before this Court, the petitioner to file additional documents/material within two weeks, and any detailed representation to be considered afresh in accordance with law including extant regulations, without prejudice from the stand taken in the writ petition.