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 November 21, 1998, the application for certificate of registration submitted by the M/s. Nath Capital & Financial Services Limited, a Non-Banking Financial Company having its Registered Office at 1, Chatean Windsor, 86, Veer Nariman Road, Churchgate, Mumbai 400 020.

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 Reserve Bank of India Act, 1934.