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 15, 1999, the application for Certificate of Registration submitted by M/s. Madhupala Credit Capitals Ltd., (formerly Auriferous Finance & Investment Ltd.,) now changed its name to M/s. Innareddy Computer Software Associates (I) Ltd., having its Registered Office at 203, Ashok Plaza, 2nd Floor, 10-1-126, Masab Tank, Hyderabad-500 028. 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 Reserve Bank of India Act, 1934.