Penalty Details
- Authority: Reserve Bank of India (RBI)
- Penalty Amount: ₹2,70,000 (Rupees Two Lakh Seventy Thousand only)
- Legal Basis: Imposed under Section 52A of the National Housing Bank Act, 1987
- Date of Receipt: Order received via email dated June 19, 2026
- Type of Communication: Speaking Order issued by RBI
Non-Compliance Details
- Violation: Non-compliance with provisions of Paragraph 80.4 of Master Direction - Non-Banking Financial Company-Housing Finance Company (Reserve Bank) Directions, 2021
- Specific Violation: Failure to clearly indicate bifurcation between interest and principal in instalments collected from borrowers
- Reference Circular: DOR.FIN.HFC.CC.No.120/03.10.136/2020-21 dated February 17, 2021 (updated as on February 27, 2025)
- Inspection Period: Statutory inspection conducted by National Housing Bank (NHB) with reference to company's financial position as on March 31, 2025
Financial Impact
- Expected Impact: No material impact on financial, operational or other activities of the Company due to the penalty payable
- Financial Implications: Limited to the penalty amount of ₹2.70 lakh only
Corrective Actions Taken
- Implementation Date: April 1, 2026
- Action Taken: Incorporated bifurcation of principal and interest in the Statement of Account
- Current Status: Company is now in full compliance with RBI directions
- Details: Statement of Account now includes separate details mentioning Principal, Interest, charges etc. out of the instalment received from borrowers
Compliance Certification
The disclosure includes a statement from Nilesh Jain, Company Secretary, confirming compliance with Regulation 30(13) of SEBI Listing Regulations and that the information provided is true, correct and complete to the best of his knowledge and belief.