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 April 20, 2001, the application for certificate of registration submitted by M/s. Authentic Finance Pvt. Ltd. , 16, Netaji Subhas Road, 4th Floor, Kolkata -700 001.

As such, the above company cannot transact the business of non-banking financial institution as defined in Clause (a) of Section 45 I of the Reserve Bank of India Act, 1934.