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 June 22, 2001 the application for certificate of registration submitted by M/s. Roxy Commerce Pvt. Ltd., 168/A, Cotton Street, 4th Floor, Kolkata-700 007.

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