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 July 5, 1999, the application for Certificate of Registration submitted by M/s. Indodeep General Finance & Investment Company Ltd., having its Registered Office at 42/3 Dum Dum Road, Calcutta-700 074.

As such, the 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.