The Reserve Bank of India, in exercise of the powers conferred on it under Section 45-IA of the Reserve Bank of India Act, 1934, has rejected on August 5, 1999, the application for Certificate of Registration submitted by M/s. Allied Housing Development Finance Co. (P) Ltd., a Non-Banking Financial Company having its Registered Office at Sir R.N.Mukherjee Road, P.O. & P.S.Basirhat, Dist. North 24 Paraganas, West Bengal.

As such, the company cannot transact the business of a Non-Banking Financial Institution as defined in Clause (a) of Section 45-I of the RBI Act, 1934.