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 22, 2000 the application for certificate of registration submitted by M/s. Gautam Credits Pvt. Ltd., 2659/3, Gurudwara Road, Karol Bagh, New Delhi-110 005.

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.