Public is hereby informed that no housing finance company* shall commence or carry on the business of a housing finance institution without, inter alia, obtaining a Certificate of Registration under Section 29A of the National Housing Bank Act, 1987 (53 of 1987).
Contravention of the above provisions is an offence punishable with imprisonment and with fine under the said Act.
Any person placing deposits or otherwise dealing with housing finance companies is, therefore, advised to satisfy himself that the concerned company has obtained a Certificate of Registration from the National Housing Bank and that the certificate of Registration is valid for acceptance of deposits from the public. For the detailed list of housing finance companies, the web-site of National Housing Bank viz. www.nhb.org.in may be accessed.
It is, however, clarified that deposits with housing finance companies are neither insured nor guaranteed by the National Housing Bank and the depositors are advised in their own interest, to satisfy themselves about the company and its credit worthiness before having any dealings with them.
Names of the companies whose application for Certificate of Registration have been declined/rejected/rejected as withdrawn/cancelled and Companies ineligible to carry on the business of housing finance institution can also be accessed on the Bank’s web-site.
This advertisement is issued in the public interest.
Dated. December 1, 2009
* A housing finance company means a company registered under the Companies Act, 1956 (1 of 1956) which primarily transacts or has one of its principal objects, the transacting of the business providing finance for housing whether directly or indirectly.