$~33 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 4760/2020 KRISHNA CAPFIN LTD .....Petitioner Through: Mr. Vaibhav Sethi, Mr. Sikhyat Oberoi, Mr. Ravi Sharma, Mr. Shivam Prakash, Mr. Nishita Gupta & Mr.

Arihant Jain, Advs. (8932998839)

versus UNION OF INDIA & ANR. .....Respondents Through: Mr. Ramesh Babu, Ms. Manisha Singh, Ms. Tanya Chowdhary, Ms. Nisha Sharma, Mr. Rohan Srivastava, Advs. for RBI (9971671294)

Mr. Bhagvan Swarup Shukla, CGSC with Mr. Sarvan Kumar, Mr. Praveen Gupta & Mr. Mukesh Kumar Pandey, Advs. (+91 8920-144863)

CORAM:

JUSTICE PRATHIBA M. SINGH JUSTICE MADHU JAIN

O R D E R

% 15.01.2026

1. This hearing has been done through hybrid mode.

2. The challenge in the present writ petition is for setting aside the impugned order dated 30^th April, 2020 passed by the Appellate Authority under Section 45-IA of the Reserve Bank of India Act, 1934 (hereinafter “RBI Act”). Vide the impugned order, the RBI’s order dated 18th October, 2018 cancelling the Petitioner’s Certificate of Registration as a Non-Banking Financial Company (hereinafter “NBFC”) was upheld.

3. The case of the Petitioner is that it had filed an application on 8^th July, 1997 under Section 45-IA of the RBI Act