The Reserve Bank of India, has on July 19, 2005 rejected the application for certificate of registration submitted by M/s. Usha Martin Telematics Limited having its office at 3A, Landmark, 3rd Floor, 228-a AJC Bose Road, Kolkata-700 020.

Following rejection of application for certificate of registration, M/s. Usha Martin Telematics Limited can not transact the business of a non-banking financial institution.

The Reserve Bank of India has taken this action under powers conferred on it by Clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.