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 February 18, 2000 the application for Certificate of Registration submitted by M/s. Esskay Telecom Ltd., 49 G. C. Avenue, 2nd Floor, Calcutta-700 013.

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