Disclosure of penalty levied by National Housing Bank on contravention / default of regulatory requirements as required under Policy Circular NHB (ND)/DRS/Policy Circular No. 93/2018-19, dated February 15, 2019.
In terms of paragraph 32(1)(i) of the Housing Finance Companies Directions, 2010, no Housing Finance Company shall lend to any single borrower exceeding fifteen percent of its owned fund. In this regard, during the year 2018-19, NHB vide its letter NHB (ND)/HFC/DRS/Sup./A-2718/2019 dated 25th March, 2019 had imposed a penalty of Rs.15000 and GST thereon for non-compliance of credit concentration norm as required under above said paragraph and the same was paid subsequent to the financial year ended 31st March, 2019.
Disclosure of penalty levied by Reserve Bank of India on contravention / default of regulatory requirements as required under Chapter III of the Reserve Bank of India (Housing Finance Companies) Directions, 2021.
The Reserve Bank of India (RBI), in exercise of the powers conferred under the National Housing Bank Act, 1987, imposed a monetary penalty of ₹1.80 lakh on the Company vide its Order dated May 08, 2026, for contravention of Chapter III of the Reserve Bank of India (Housing Finance Companies) Directions, 2021, due to the appointment of a Director without obtaining the RBI's prior written approval, resulting in a change exceeding 30% of the Company's non-independent directors.