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 the application for certificate of registration submitted by M/s. DSJ Finance Corporation Ltd., "Star House", 1st Floor, R.K.Singh, off Parsi Panchayat Road, Andheri (E), Mumbai 400 069 on October 20, 1998.

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.