MANE FINANCE PRIVATE LIMITED RAJESH DUBEY vs RESERVE BANK OF INDIA AND ANR Advocate - M/s. K. Ashar and Co. — WP/1091/2021

Case under Constitution of India Section other act. Disposed: Contested--Disposed Off on 09th June 2026.

Case disposed

CNR: HCBM010457652019

Filing Number

WP/27355/2019

Filing Date

10-Oct-2019

Registration No

WP/1091/2021

Registration Date

05-Apr-2021

Judge

Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

Coram

Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

Bench Type

Division

Category

ORDINARY CIVIL ( 30 )

Sub-Category

OTHERS ( 99 )

Judicial Branch

Civil

Decision Date

09-Jun-2026

Nature of Disposal

Contested--Disposed Off

Last updated 13-Jun-2026

Acts & Sections

Constitution of India Section other act

Petitioner(s)

  1. 1.MANE FINANCE PRIVATE LIMITED RAJESH DUBEY

Respondent(s)

  1. 1.RESERVE BANK OF INDIA AND ANR Advocate - M/s. K. Ashar and Co.

  2. 2.THE APPELLATE AUTHORITY THROUGH THE DEPARTMENT OF FINANCIAL SERVICES

Case History

  1. Case disposedDisposed

  2. 09-Jun-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

    Case Summary: WP/1091/2021 - Mane Finance Private Limited v. Reserve Bank of India The Bombay High Court dismissed Mane Finance's petition challenging the RBI's cancellation of its NBFC registration. The court upheld the RBI's 2018 cancellation order and the Appellate Authority's 2019 confirmation, finding that Mane Finance failed to achieve the mandated Net Owned Fund (NOF) of Rs. 200 lakh by April 1, 2017, maintaining negative NOF (Rs. -26.14 crore in 2016, Rs. -2.84 crore in 2017) and submitting only unaudited accounts despite opportunities to provide audited statements. This case analysis is maintained by casestatus.in based on publicly available court records.

  3. 09-Jun-2026

    For Admission

    Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

  4. 08-Jun-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  5. 08-Jun-2026

    For Admission

    Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

  6. 05-May-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  7. 05-May-2026

    For Admission

    Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

  8. 21-Apr-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  9. 21-Apr-2026

    For Admission

    Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

  10. 01-Apr-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  11. 01-Apr-2026

    For Admission

    Hon'ble Smt. Justice Bharati Dangre , Hon'ble Justice Smt Manjusha Ajay Deshpande

  12. 25-Feb-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  13. 09-Jan-2026

    Hon'ble Smt. Justice Bharati Dangre,hon'ble Shri Justice R. N. LaddhaView PDF

  14. 09-Jan-2026

    For Admission

    Hon'ble Shri Justice Suman Shyam , Hon'ble Shri Justice S. M. Modak

  15. 05-Dec-2025

    Hon'ble Shri Justice Suman Shyam,hon'ble Shri Justice S. M. ModakView PDF

  16. 05-Dec-2025

    For Admission

    Hon'ble Shri Justice Suman Shyam , Hon'ble Justice Smt Manjusha Ajay Deshpande

  17. 10-Oct-2025

    Hon'ble Shri Justice Suman Shyam,hon'ble Justice Smt Manjusha Ajay DeshpandeView PDF

  18. 10-Oct-2025

    For Circulation

    Hon'ble Shri Justice Suman Shyam , Hon'ble Shri Justice Shyam C. Chandak

  19. 22-Aug-2025

    Hon'ble Shri Justice Suman Shyam,hon'ble Shri Justice Shyam C. ChandakView PDF

  20. 16-Jun-2021

    Due Admission - 1

    Hon'ble Shri Justice Madhav J. Jamdar , Hon'ble Shri Justice A.A. Sayed

  21. 07-Apr-2021

    Hon'ble Shri Justice Madhav J. Jamdar,hon'ble Shri Justice A.A. SayedView PDF

  22. 07-Apr-2021

    For Circulation

    Hon'ble Shri Justice Madhav J. Jamdar , Hon'ble Shri Justice A.A. Sayed

  23. 17-Oct-2019

    First hearing

    Initial hearing scheduled

  24. 10-Oct-2019

    Case filed

    Registration No. WP/1091/2021

casestatus.in Summary

Case Summary: WP/1091/2021 - Mane Finance Private Limited v. Reserve Bank of India The Bombay High Court dismissed Mane Finance's petition challenging the RBI's cancellation of its NBFC registration. The court upheld the RBI's 2018 cancellation order and the Appellate Authority's 2019 confirmation, finding that Mane Finance failed to achieve the mandated Net Owned Fund (NOF) of Rs. 200 lakh by April 1, 2017, maintaining negative NOF (Rs. -26.14 crore in 2016, Rs. -2.84 crore in 2017) and submitting only unaudited accounts despite opportunities to provide audited statements. This case analysis is maintained by casestatus.in based on publicly available court records.

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