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 May 23, 2000 the application for certificate of registration submitted by M/s. Franzaan Capitals Ltd., Aasan Zubi House, 1-2-597/13, Lower Tank Bund, Hyderabad-500 029.

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