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Penalties

 

 

Penalties

Penalties imposed on various Housing Finance Companies for contravention of the various provisions of the National Housing Bank Act, 1987 and for contravention of the various provisions of Directions, Notifications, Guidelines, Circulars etc., issued thereunder.

Sl. No. Company’s Name Date Reasons for imposition of Penalty Amount of penalty (₹)
2010-11
1 HBN HOUSING FINANCE LIMITED 13/01/2011 Delayed submission of Annual Return as on 31.03.2010 1000
2 INDIA HOME LOAN LIMITED 14/01/2011 Delayed submission of Annual Return as on 31.03.2010 1000
3 HBN HOUSING FINANCE LIMITED 11/03/2011 Delayed submission of Half Yearly Return as on 30.09.2010 1000
4 SUMEL HOUSING FINANCE PRIVATE LIMITED 14/03/2011 Delayed submission of Half Yearly Return as on 31.03.2010 1000
5 DEWAN HOUSING FINANCE CORPORATION LIMITED 30/03/2011 Contravention of Paragraph 32 of the HFCs (NHB) Direction 2010 5000
6 DHFL VYSYA HOUSING FINANCE LIMITED 02/06/2011 Contravention of Paragraph 32 of the HFCs (NHB) Direction 2010 5000
7 HAWARE’S HOUSING DEV. FINANCE CORPORATION LIMITED 03/06/2011 Non Submission of Half Yearly Return as on 30.09.2010 1000
8 AKME STAR HOUSING FINANCE LIMITED 03/06/2011 Non Submission of Half Yearly Return as on 30.09.2010 1000
2011-12
1 VASTU HOUSING FINANCE CORPORATION LIMITED 12/07/2011 Delayed submission of Half Yearly Return as on 31.03.2011 1000
2 INARA HOUSING FINANCE LIMITED 13/07/2011 Delayed Submission of Half Yearly Return as on 31.03.2011 1000
3 KERALA HOUSING FINANCE LIMITED 04/08/2011 Late submission of Half Yearly Return as on 31.03.2011 1000
4 KERALA HOUSING FINANCE LIMITED 21/09/2011 Late submission of Annual Return as on 31.03.2011 1000
5 AKME STAR HOUSING FINANCE LIMITED 17/10/2011 Non submission of Half Yearly Return as on 31.03.2011 1000
6 HAWARE’S HOUSING DEV. FINANCE CORPORATION LIMITED 19/10/2011 Delayed submission of Half Yearly Return as on 31.03.2011 1000
2012-13
1 PANTHOIBI HOUSING FINANCE COMPANY LIMITED 24/09/2012 Delayed submission of Half Yearly Return as on 31.03.2012 1000
2 GIC HOUSING FINANCE LIMITED 24/09/2012 Contravention of Paragraph 44 of the HFCs (NHB) Direction 2010 1,000
3 DEWAN HOUSING FINANCE CORPORATION LIMITED 09/10/2012 Contravention of Section 29C of NHB Act, 1987 5000
4 KERALA HOUSING FINANCE LIMITED 05/11/2012 Delayed submission of Half Yearly Return as on 31.03.2012 1000
5 KERALA HOUSING FINANCE LIMITED 05/11/2012 Late submission of Annual Return as on 31.03.2012 1000
6 AKME STAR HOUSING FINANCE LIMITED 31/01/2013 Late submission of Half Yearly Return as on 30.09.2012 1000
7 HABITAT MICRO BUILD INDIA HOUSING FINANCE COMPANY PRIVATE LIMITED 22/04/2013 Non Submission of Half Yearly Return as on 30.09.2012 1000
2013-14
1 KERALA HOUSING FINANCE LIMITED 03/07/2013 Non-Disclosure in Notes on Accounts to its Balance Sheet Annual Report 2012 in Contravention to 29(5)(a) of the NHB Act 2010 5000
2 HBN HOUSING FINANCE LIMITED 04/07/2013 Delayed submission of Half Yearly Return as on 31.03.2013 1000
3 INDIA INFOLINE HOUSING FINANCE LIMITED 16/07/2013 Contravention of Paragraph 37 of the HFCs (NHB) Direction 2010 5000
4 HBN HOUSING FINANCE LIMITED 05/08/2013 Delayed submission of Annual Return as on 31.03.2013 1000
5 HABITAT MICRO BUILD INDIA HOUSING FINANCE COMPANY PRIVATE LIMITED 06/08/2013 Delayed submission of Half Yearly Return as on 31.03.2013 1000
6 NATIONAL TRUST HOUSING FINANCE LIMITED 13/08/2013 Delayed submission of Half Yearly Return as on 31.03.2013 1000
7 NATIONAL TRUST HOUSING FINANCE LIMITED 13/08/2013 Delayed submission of Annual Return as on 31.03.2013 1000
8 NORTH EAST REGION HOUSING FINANCE COMPANY LIMITED 13/08/2013 Late submission of Half Yearly Return as on 31.03.2013 1000
9 SAHARA HOUSINGFINA CORPORATION LIMITED 06/09/2013 Late Submission of reply of Supervisory Letter 1000
10 CENT BANK HOME FINANCE LIMITED 16/01/2014 Non Submission of Half Yearly Return in Prescribing format as on 31.03.2013 1000
11 CENT BANK HOME FINANCE LIMITED 22/01/2014 Non Submission of ALM Return and delayed submission of ALM Return During 2012-13 16000
12 MUTHOOT HOUSING FINANCE COMPANY LIMITED 22/01/2014 Contravention of Paragraph 37 of the HFCs (NHB) Direction 2010 34000
13 CENT BANK HOME FINANCE LIMITED 07/02/2014 Non Compliance of additional disclosure of Balance Sheet 5000
14 DEWAN HOUSING FINANCE CORPORATION LIMITED 31/03/2014 Contravention of provision of Section 29C of NHB Act 1987 5000
15 SRG HOUSING FINANCE LIMITED 09/04/2014 Non Compliance with the provision of Section 29C of NHB Act 1987 5000
16 ICICI HOME FINANCE COMPANY LIMITED 15/04/2014 Contravention for not maintaining minimum Lock in period regarding Premature closure of Fixed Deposit 5000
17 DHFL VYSYA HOUSING FINANCE LIMITED 02/06/2014 Contravention of provision of Section 29C of NHB Act 1987 5000
2014-15
1 INDIA HOME LOAN LIMITED 14/07/2014 Contravention of provision of Paragraph 29(2) of the HFCs (NHB) Direction 2010 2500
2 NATIONAL TRUST HOUSING FINANCE LIMITED 22/07/2014 Delayed submission of Half Yearly Return as on 31.03.2014 1000
3 ROSE VALLEY HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 28/07/2014 Non Submission of Half Yearly Return as on 31.03.2014 5000
4 KERALA HOUSING FINANCE LIMITED 21/08/2014 Non Compliance with provision of paragraph 28 of HFCs (NHB) Direction 2010 5000
5 MILESTONE HOME FINANCE CO. PRIVATE LIMITED 25/08/2014 Late Submission of Half Yearly Return as on 31.03.2014 1000
6 DEWAN HOUSING FINANCE CORPORATION LIMITED 15/10/2014 Contravention of provision of paragraph 21 of the HFCs (NHB) Direction 2010 20000
7 MICRO HOUSING FINANCE CORPORATION LIMITED 28/10/2014 Non-Compliance with provision of paragraph 28 of HFCs (NHB) Direction 2010 5000
8 IND BANK HOUSING LIMITED 28/10/2014 Contravention of Section 29 B (1) of the NHB Act, 1987 5694
9 DEWAN HOUSING FINANCE CORPORATION LIMITED 14/11/2014 Non Compliance with the provisions of Guidelines on Asset Liabilities Management (ALM) System for HFCs 25000
10 PNB HOUSING FINANCE LIMITED 29/12/2014 Contravention of provision of paragraph 37 of the HFC (NHB) Direction 2010 2000
11 MENTOR HOME LOANS INDIA LIMITED 30/12/2014 Non Submission of Return 5000
12 KERALA HOUSING FINANCE LIMITED 02/01/2015 Non Compliance with the provisions of Paragraph 42 of the HFCs (NHB) Direction 2010 5000
13 CANFIN HOMES LIMITED 08/01/2015 Non Compliance in Submission of Return for the period ended 30.09.2014 2000
14 INDIABULLS HOUSING FINANCE LIMITED 27/01/2015 Non Compliance with the provisions of Guidelines on Asset Liabilities Management (ALM) System 1000
2015-16
1 GRUH FINANCE LIMITED 09/07/2015 Non Compliance with the provisions under section 29B of NHB Act 1987 3663942
2 KERALA HOUSING FINANCE LIMITED 10/09/2015 Non Compliance with the provisions of section 29A (6) of NHB Act, 1987 525000
3 KERALA HOUSING FINANCE LIMITED 14/10/2015 Delayed in Submission of ALM Statement as on 30-06-2015 and non-submission of Schedule III Return as on 30-06-2015 6000
4 INDIA HOME LOAN LIMITED 29/12/2015 Non Submission of Quarterly Return on 10 Major Exposures to Corporates /Builders/Others entities etc. 10000
5 LIC HOUSING FINANCE LIMITED 28/04/2016 Contravention of Policy Circular no. 30 2000
2016-17
1 HABITAT MICRO BUILD INDIA HOUSING FINANCE COMPANY PRIVATE LIMITED 15/11/2016 Non Submission of Half Yearly Return as on 31-03-2016 1000
2017-18
1 CANFIN HOMES LIMITED 19/09/2017 Contravention of Section 29B of the National Housing Bank Act, 1987 2862708
2 CENT BANK HOME FINANCE LIMITED 27/09/2017 Contravention of Section 29B of the National Housing Bank Act, 1987 70195
3 REPCO HOME FINANCE LIMITED 18/10/2017 Misrepresented the Policy Circular No. 63 issued by the National Housing Bank (NHB) 5000
4 APTUS VALUE HOUSING FINANCE INDIA LIMITED 28/12/2017 Non-disclosure as required under Paragraph 5.1 of
the Housing Finance Companies – Corporate Governance (National Housing Bank) Directions, 2016
5000
5 SARAL HOUSING FINANCE LIMITED 27/02/2018 Non-submission of Half yearly return as on 30-09-2017 5000
6 REPCO HOME FINANCE LIMITED 26/04/2018 Contraventions of Para. 22, 27, 27A, 28 and 30 of the Housing Finance Companies (NHB) Directions, 2010 and Policy Circular No.18 30000
7 VASTU HOUSING FINANCE CORPORATION LIMITED 11/06/2018 Non-compliance with the provisions of Housing Finance Companies – Corporate Governance (National Housing Bank) Directions, 2016 5000
8 GIC HOUSING FINANCE LIMITED 22/06/2018 Contraventions of Policy Circular No. 58 5000
2018-19
1 DEWAN HOUSING FINANCE CORPORATION LIMITED 09/08/18 Non-compliance with the provisions of para 27(2) of the Housing Finance Companies (NHB) Directions, 2010 65000
2 PIRAMAL HOUSING FINANCE LIMITED 10/08/18 Contraventions of the provisions of Housing Finance Companies- Approval of Acquisition or Transfer of Control (NHB) Directions, 2016 5000
3 Saral Home Finance Limited 19/09/2018 Non Submission of Annual Return (Schedule – I) and Half- yearly Return (Schedule-II) as on March 31, 2018 2000
4 Indiabulls Housing Finance Limited 08/10/2018 Contravention of Paragraph 31(2)(b) of the Housing Finance Companies (NHB) Directions, 2010 – Non classification of Investment as Capital Market Exposure 5000
5 Orange City Housing Finance Limited 10/10/2018 Non Submission of Annual Return (Schedule – I) and Half- yearly Return (Schedule-II) as on March 31, 2018 2000
6 Fasttrack Housing Finance Limited 10/10/2018 Non-compliance with the provisions of Paragraph 44 of the Housing Finance Companies (NHB) Directions, 2010 – Delayed submission of Schedule-I Return & Schedule-II Return as on March 31, 2018 2000
7 KIFS Housing Finance Private Limited 15/10/2018 Non-compliance with the provisions of Paragraph 44 of the Housing Finance Companies (NHB) Directions, 2010 – Delayed submission of Schedule-I Return & Schedule-II Return as on March 31, 2018 2000
8 Swagat Housing Finance Limited 26/10/2018 Contravention of Paragraph 22 & 28 of Housing Finance Companies (NHB) Directions, 2010 and Policy Circular No. 33 15000
9 North East Region Housing Finance Company Limited 28/11/2018 Non-submission of the responses to the Inspection Observations with reference to its position as on 31-03-2016 and Non-submission of various Regulatory Returns 173000
10 Canfin Homes Ltd 09/01/2019 Contravention of Section 32 of the NHB Act, 1987 and the Fair Practice Code issued by NHB. 5000
11 Navarathna Housing Finance Ltd 23/01/2019 Non-submission of information regarding opening of branches 16000
12 GIC Housing Finance Ltd 25/01/2019 Non- compliance with the provisions of para 2(1)(v) of the provisions of the Housing Finance Companies (NHB) Directions, 2010 34,15,000
13 LIC Housing Finance Limited 30/01/2019 Contravention of Income Recognition, Asset Classification, Provisioning Norms and Disclosure in Balance Sheet 2,60,000
14 Hinduja Housing Finance Limited 25/03/2019 Non- compliance of credit concentration norm as required under Paragraph 32 (1) of the provisions of the Housing Finance Companies (NHB) Directions, 2010 15000
15 LIC Housing Finance Limited 11/04/2019 Non- compliance with the Fair Practice Code for HFCs 10000
16 Panthoibi Housing Finance Company Limited 25/04/2019 Non-intimation of Opening of Branches & Non-reporting of Intangible Assets in Annual Report of 2016-17 13000
17 Muthoot Homefin (India) Limited 03/05/2019 Non-Intimation of Opening of Branches to National Housing Bank 20000
18 Swarna Pragati Housing Microfinance Private Limited 24/05/2019 Delayed/non-submission of Statutory Returns and non-adherence to HFCs (NHB) Directions, 2010 and HFCs – Auditor’s Report (NHB) Directions, 2016 9000
19 Viva Home Finance Limited 29/05/2019 Non-compliance of NHB’s Policy Circular No.35 & 61 10000
20 Cent Bank Home Finance Limited 06/06/2019 Non- adherence to HFCs – Auditor’s Report (NHB) Directions, 2016 5000

This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the Housing Finance Company with its customers.