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 24, 1999, the application for Certificate of Registration submitted by M/s.Goldfinch Finance & Leasing Ltd., having its Registered Office at 'Srikrishna', Plot No.9, Aurora Colony-II, Road No.3, Banjara Hills, Hyderabad-500 034.

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