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 the applications for certificates of registration submitted by the following financial companies:

 

	Name and address of the Company	Date of rejection of application
1.	M/s. Narain Properties Ltd.,  City Centre, 4th Floor,  63/2, The Mall, Kanpur-208 004.	18.9.1998
2.	M/s. Kadambini Mercantiles Ltd.,  City Centre, 4th Floor,  63/2, The Mall, Kanpur-208 004.	18.9.1998
3.	M/s. Hari Krishan Coated Sheets Ltd.,  Somani Bhavan,  51/27, Nayaganj, Kanpur.	18.9.1998
4.	M/s. Lucem Finance Ltd.,  S-26/13-K-1, Taktapur Road,  Anola, Orderly Bazar, Varanasi-221 002.	18.9.1998
5.	M/s. Brisk Capital Market Services Ltd.,  1101 Arunachal,  19, Barakhamba Road,  New Delhi.	18.9.1998
6.	M/s. Manu Finlease Ltd.,  61/1/5, Dayanand Vihar,  Delhi.	18.9.1998
7.	M/s. Devatha Finance Pvt. Ltd.,  536, Kolla Complex, Avenue Road,  Bangalore-560 002.	18.9.1998
8.	M/s. Entrust Finance Pvt. Ltd.,  671, 3rd Floor, Mandipet,  Davangere-577 001.	18.9.1998

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

 (Alpana Killawala)
General Manager

Press Release : 1998-99/340