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 June14, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Kamal Capital and Finlease (India) Ltd., 2, Vaishali Flats, Opposite Naya Mandi, New Deesa-385 535.

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.