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 December 13, 1999, the application for Certificate of Registration submitted by the financial company, M/s. Kataria Finlease Private Limited, 5-6, Ashwarath, Nr. Usmanpura Circle, Ashram Road, Ahmedabad-380 014.

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.