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 December 19, 2000 the application for certificate of registration submitted by M/s. S.G.Manu Finance Pvt. Ltd. No.17, III Floor, Pavan Complex, B.V.K. Iyengar Road, Bangalore-560 053.

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