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Penalties

Announcement

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.

20AKME STAR HOUSING FINANCE LIMITED08/12/2020Contravention of Para 3(i)(c) of HFCs- Approval of Acquisition or Transfer of Control (NHB) Directions, 2016, of Para 4(IV) of HFCs -Corporate Governance (NHB) Directions, 2016 and Para 44(2)(ii) of HFCs (NHB) Directions, 201015000

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 Paragraph 29(5)(a) of the HFCs (NHB) Directions 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
21 Shubham Housing Development Finance Company Limited 19/06/2019 Non-compliance with the provisions of Policy Circular No. 41 340000
2019-20
1 Sundaram BNP Paribas Home Finance Limited 05/07/2019 Non-compliance with the provisions of Paragraph 30 of the Housing Finance Companies (NHB) Directions, 2010 and Paragraph 10(2) of the HFCs issuance of Non-Convertible Debentures on private placement basis (NHB) Directions, 2014 15000
2 Dewan Housing Finance Corporation Limited 12/07/2019 Non-compliance with the provisions of Housing Finance Companies – Approval of Acquisition or Transfer of Control (NHB) Directions, 2016 5000
3 National Trust Housing Finance Limited 17/07/2019 Non-compliance with the provisions of Policy Circular No. 18 5000
4 Magma Housing Finance Limited 18/07/2019 Non-compliance with the provisions of paragraph 28 of Housing Finance Companies (NHB) Directions, 2010 50000
5 PNB Housing Finance Limited 18/07/2019 Non-compliance with Policy Circular No. 58 & 75 75000
6 Orange City Housing Finance Limited 30/07/2019 Non-submission of response to the Show cause notice w.r.t. Inspection Observation on Grievance Redressal Mechanism 5000
7 Home First Finance Company India Limited 30/07/2019 Non-compliance with the provisions of Paragraph 2(1) (zg) and Paragraph 30 of the Housing Finance Companies (NHB) Directions, 2010 10000
8 FIVE STAR HOUSING FINANCE PRIVATE LIMITED 21/08/2019 Non-compliance with the provisions of Policy Circular No. 54, 70 & 86 15000
9 ARYARTH HOUSING FINANCE LIMITED 12/09/2019 Non-submission of Returns through ORMIS 2000
10 DEWAN HOUSING FINANCE CORPORATION LIMITED 17/09/2019 Violation of Policy Circular No. 30 5000
11 MAGMA HOUSING FINANCE LIMITED 14/10/2019 Non-compliance with the provisions of HFCs -Corporate Governance (NHB) Directions, 2016 5000
12 RELIANCE HOME FINANCE LIMITED 22/10/2019 Contravention of NHB’s Directions 45000
13 GIC HOUSING FINANCE LIMITED 30/10/2019 Non-compliance with the provisions of Paragraph 29(5) of the Housing Finance Companies (NHB) Directions, 2010, HFCs -Corporate Governance (NHB) Directions, 2016 and Policy Circular No.25 15000
14 INDIA HOME LOAN LIMITED 15/11/2019 Non-compliance with the provisions of Paragraph 44(1)(i) of the Housing Finance Companies (NHB) Directions, 2010 1000
15 INDIABULLS HOUSING FINANCE LIMITED 02/12/2019 Submission of incorrect information on “nature & tenure of credit rating & sourcing fee amortized” 5000
16 FASTTRACK HOUSING FINANCE LIMITED 04/12/2019 Delayed submission of ALM Returns for the half-year ended September 30, 2019 2000
17 ESSEL FINANCE HOME LOANS LIMITED 05/12/2019 Non-compliance with the provisions of Paragraph 2(zd) of the Housing Finance Companies (NHB) Directions, 2010 5000
18 FASTTRACK HOUSING FINANCE LIMITED 09/12/2019 Delayed submission of Quarterly Return (Schedule-III) for the period ended 30-06-2019 1000
19 LIC HOUSING FINANCE LIMITED 19/12/2019 Non- compliance with the Fair Practice Code for HFCs 5000
20 SAHARA HOUSINGFINA CORPORATION LIMITED 23/12/2019 Non-disclosure of information in terms of Housing Finance Companies – Corporate Governance (National Housing Bank) Directions, 2016 5000
21 BAJAJ HOUSING FINANCE LIMITED 26/12/2019 Contravention of HFCs issuance of Non-Convertible Debentures on private placement basis (NHB) Directions, 2014 5000
22 ADITYA BIRLA HOUSING FINANCE LIMITED 03/01/2020 Non-compliance with the provisions of Paragraph 28, 37(1) of the Housing Finance Companies (NHB) Directions, 2010 and Corporate Governance (NHB) Directions, 2016 4105000
23 MUTHOOT HOMEFIN (INDIA) LIMITED 10/01/2020 Non-compliance with the provisions of Paragraph 27A and 30 of the Housing Finance Companies (NHB) Directions, 2010 50000
24 RELIANCE HOME FINANCE LIMITED 15/01/2020 Contravention of NHB’s Directions 12000
25 GIC HOUSING FINANCE LIMITED 05/03/2020 Delayed submission of half Year Return in Schedule-II for the period ended on 30.09.2019. 1000
26 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 16/03/2020 Non-compliance with the provisions of paragraph 2(1)(zc)(ii) and 37(3) of the Housing Finance Companies (NHB) Directions, 2010 85000
27 GIC HOUSING FINANCE LIMITED 19/03/2020 Non- compliance of Policy Circular no 41 30000
28 RELIANCE HOME FINANCE LIMITED 08/04/2020 Contravention of NHB’s Policy Circular No. 34 (Guidelines on Fair Practices Code for HFCs) 10000
29 ART HOUSING FINANCE (INDIA) LIMITED 21/04/2020 Non-compliance of Para 2(1) (zc) of the HFC (NHB) Directions 2010 and Policy Circular 55 and 83 160000
30 CAPRI GLOBAL HOUSING FINANCE LTD 01/05/2020 Non-compliance with the risk weight assignments for CAR computation 65000
31 HABITAT MICRO BUILD INDIA HOUSING FINANCE COMPANY PRIVATE LTD 19/05/2020 Non-compliance with paragraph 28 and 32(1) of the Housing Finance Companies (NHB) Directions, 2010 and Corporate Governance (NHB) Directions, 2016 25000
32 HOME FIRST FINANCE COMPANY INDIA LIMITED 19/05/2020 Non-compliance of paragraph 28 of the Housing Finance Companies (NHB) Directions, 2010 5000
33 SHUBHAM HOUSING DEVELOPMENT FINANCE COMPANY LIMITED 26/05/2020 Contravention of Paragraph 27-A and Paragraph 30-(2-B) of the HFCs (NHB) Direction 2010. 680000
34 ART HOUSING FINANCE (INDIA) LIMITED 26/05/2020 Non-compliance with the provisions of paragraph 44(2)(ii) of the HFCs (NHB) Directions, 2010 1000
35 SUNDARAM HOME FINANCE LIMITED 09/06/2020 Non-Compliance with the provisions of Paragraph 28 of the HFCs (NHB) Direction 2010, Paragraph 10(2) of the NHB Directions on issuance of NCDs on private placement basis, 2014 and Policy Circular No 55. 1245000
36 RELIANCE HOME FINANCE LIMITED 17/06/2020 Non –Compliance with Para 2(v)(iii) of HFCs (NHB) Directions, 2010 175000
37 CENT BANK HOME FINANCE LTD 26/06/2020 Non-compliance of para 5.4 of Housing Finance Companies – Corporate Governance (NHB) Directions, 2016. 5000
2020-21
1 KIFS HOUSING FINANCE PRIVATE LIMITED 20/07/2020 Contravention of Para 27A of the HFC (NHB) Direction, 2010. 5000
2 MOTILAL OSWAL HOME FINANCE LIMITED 25/08/2020 Contravention of HFCs–Corporate Governance (NHB) Directions, 2016; Para 10 of HFCs- issuance of NonConvertible Debentures on private placement basis Directions , 2014 and Policy Circular no 55 15000
3 INDIA HOME LOAN LIMITED 25/08/2020 Contravention of HFCs–Corporate Governance (NHB) Directions, 2016 50000
4 RELIGARE HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 26/08/2020 Contravention of Para 2(1)(zc)(ii), Para 30 and Para 37(1) of HFCs (NHB) Directions, 2010; Policy Circular No. 33, 35, 40, 41 and 94. 90000
5 BAJAJ HOUSING FINANCE LIMITED 01/09/2020 Contravention of Para 27A of the HFC (NHB) Direction, 2010 and Para 10(2) of HFCs- issuance of Non-Convertible Debentures on private placement basis Directions , 2014 50000
6 RELIANCE HOME FINANCE LTD 16/09/2020 Contravention of Para 30 of HFCs (NHB) Directions, 2010 20000
7 ART HOUSING FINANCE (INDIA) LIMITED 16/09/2020 Contravention of Para 3(c) of HFCs- Approval of Acquisition or Transfer of Control (NHB) Directions, 2016 25000
8 PNB HOUSING FINANCE LIMITED 25/09/2020 Contravention of Para 2(1)(v), 2(1)(x), 27(1) and 2(1)(zc)(ii) of the HFCs (NHB) Directions, 2010; certain provisions of Master Circular – Fair Practices Code; Policy Circular No 35, 55 and other provisions. 19000000
9 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 29/09/2020 Contravention of para 2(1)(zc)(ii) and 2(1)(v)(x) of the HFCs (NHB) Directions, 2010 150000
10 SHUBHAM HOUSING DEVELOPMENT FINANCE COMPANY LIMITED 06/10/2020 Contravention with the provisions Policy Circular No. 55 2965000
11 INDOSTAR HOME FINANCE PRIVATE LIMITED 07/10/2020 Contravention of Para 27A of the HFCs (NHB) Directions, 2010 25000
12 INDIABULLS HOUSING FINANCE COMPANY LIMITED 08/10/2020 Contravention of Section 29(A)(7) of NHB Act, 1987; Para 2(1)(z)(c)(ii), 2(1)(v)(i), 28(1)(iv)(a), 28(1)(iv)(b)(ii) and 30 of the HFCs (NHB) Directions, 2010; Certain provisions of HFCs-issuance of Non-Convertible Debentures on private placement basis(NHB) Directions , 2014 and other provisions. 345000
13 CAN FIN HOMES LTD. 15/10/2020 Contravention with the provisions of Policy Circular no 21. 5000
14 INDIA SHELTER FINANCE CORPORATION LIMITED 19/10/2020 Contravention of Para 2(i)(zc)(ii) of HFCs (NHB) Directions, 2010 and Policy Circular No. 75 745000
15 RELIANCE HOME FINANCE LIMITED 20/10/2020 Contravention of Section 32 of NHB Act, 1987; Para 2(1)(da) of HFCs (NHB) Directions, 2010 and Policy Circular No. 74 55000
16 IKF HOME FINANCE LIMITED 21/10/2020 Contravention of Section 29C of The NHB Act, 1987 and Para 5 of the HFCs– Corporate Governance (NHB) Directions, 2016 10000
17 FULLERTON INDIA HOME FINANCE COMPANY LIMITED 27/10/2020 Contravention of Para 22 and 27A of the HFCs (NHB) Directions, 2010 10000
18 ALTUM CREDO HOME FINANCE PRIVATE LIMITED 20/11/2020 Contravention of Policy Circular No. 41 5000
19 HOME FIRST FINANCE COMPANY INDIA LIMITED 23/11/2020 Contravention of Para 29 of the HFCs (NHB) Directions, 2010 and Policy Circular No 18&40 10000
21 IIFL HOME FINANCE LIMITED 24/12/2020 Contravention of para 2(1) (zc) (ii) of HFCs (NHB) Directions, 2010 1855000
22 APTUS VALUE HOUSING FINANCE INDIA LIMITED 24/12/2020 Contravention of Section 29C of NHB Act, 1987 and non- compliance with Para 28 of the Housing Finance Companies (NHB) Directions, 2010. 10000
23 GIC HOUSING FINANCE LIMITED 31/12/2020 Delayed and Non-submission of Returns 16000
24 HERO HOUSING FINANCE LIMITED 12/01/2021 Contravention of Para 27A of the Housing Finance Companies (NHB) Directions, 2010, Para 9 and Para 10 of the Housing Finance Companies issuance of Non-Convertible Debentures on private placement basis (NHB) Directions, 2014 15000
25 SUNDARAM HOME FINANCE LIMITED 22/01/2021 Contravention of Policy Circular 41 640000
26 FAST TRACK HOUSING FINANCE LIMITED 04/02/2021 Contravention of Section 29C of NHB Act, 1987 5000
27 MENTOR HOME LOANS INDIA LIMITED 18/02/2021 Contravention of certain provisions of the Housing Finance Companies (NHB) Directions, 2010, Housing finance Companies – Issuance of Non-convertible Debentures on private placement basis (NHB) Directions, 2014, Housing Finance Companies – Corporate Governance (NHB) Directions, 2016 and NHB Policy Circular no 35, 49, 90 and 94. 90000
28 NATIONAL TRUST HOUSING FINANCE LIMITED 19/02/2021 Contravention of Paragraph 2(1)(v) of the Housing Finance Companies (NHB) Directions, 2010 and Policy Circular 86 360000
29 IFL HOUSING FINANCE LIMITED 19/02/2021 Contravention of the provisions of Section 29C of the NHB Act, 1987, Paragraph 2(1)(r), paragraph 29(3) and paragraph 29(4) of The Housing Finance Companies (NHB) Directions, 2010, Paragraph 5(ii)(i) of The Housing Finance Companies – Corporate Governance (NHB) Directions, 2016, Policy Circular No.92 and Misc. Circular No.5 35000
30 ADITYA BIRLA HOUSING FINANCE LTD 19/02/2021 Contravention of Policy Circular 41 10000
31 ADANI HOUSING FINANCE PRIVATE LIMITED 23/02/2021 Contravention of Paragraph 3.I(i) of The Housing Finance Companies – Corporate Governance (NHB) Directions, 2016 2,000
32 MANAPPURAM HOME FINANCE LIMITED 25/02/2021 Contravention of Para 30 of Housing Finance Companies (NHB) Directions, 2010 3,95,000
33 DMI HOUSING FINANCE PRIVATE LIMITED 25/02/2021 Non-compliance of Para 28,29 and 30 of Housing Finance Companies (NHB) Directions, 2010, Policy circular no. 41, Policy circular 81 and Policy circular 86, Para 9(1) of HFCs- issuance of Non-Convertible Debentures on private placement basis Directions , 2014 23,55,000
34 VASTU HOUSING FINANCE CORPORATION LIMITED 25/02/2021 Non-compliance of Para 27A of Housing Finance Companies (NHB) Directions, 2010 20,000
35 SARAL HOME FINANCE LIMITED 26/02/2021 Non-compliance of para 44 (1) (i) & (ii) of Master Circular – The Housing Finance Companies (NHB) Directions, 2010 and NHB Policy Circular 15 & 78. (Delayed/non-submission of half-yearly, Quarterly and monthly returns) 22000
36 INDIABULLS HOUSING FINANCE LIMITED 26/02/2021 Non-compliance of Para 2(1)(zc)(ii) of the HFCs (NHB) Directions,2010, Policy Circular No.33, Policy Circular No 74, Policy Circular No. 86, Misc. Circular No.5 and Misc. Circular No.20 20,65,000
37 RELIANCE HOME FINANCE LIMITED 01/03/2021 Contravention of section 29A of NHB Act, 1987, Para 2(1) (zd), Para 28, Para 30(1) and Para 30(2) of HFC (NHB) Directions, 2010 and Policy Circular no. 89 30,000
38 HOMESHREE HOUSING FINANCE LIMITED 15/03/2021 Contraventions of Policy Circular No. 41 and Para 28 of the Housing Finance Companies (NHB) Directions, 2010 10,000
39 SUPREME HOUSING FINANCE LTD. 25/03/2021 Non-compliance of para 27A, para 28 and para 30 of HFC(NHB) Directions, 2010 , Policy Circular no. 41, Policy Circular no. 81 and para 5 of RBI Circular DOR.No.BP.BC.63/ 21.04.048/2019-20 dated April 17, 2020 50,000
40 MAGMA HOUSING FINANCE LIMITED 30/03/2021 Non-compliance of para 2(1)(v)(x), para10(2) of HFC(NHB) Directions, 2010 , Policy Circular no. 58, 75, 86 and 96 50,000
41 Can Fin Homes Limited 11/06/2021 Contravention of the provisions of Para 4 of the HFCs (NHB) Directions,2010. 2913234
42 PNB Housing Finance Limited 11/06/2021 Contravention of the provisions of Policy Ciurcular 58 and 75 80000
43 Panthoibi Housing Finance Company Limited 21/06/2021 Contravention of the provisions of Para 44 of the HFCs (NHB) Directions, 2010. 1000
44 Centrum Housing Finance Limited 21/06/2021 Contravention of the provisions of Para 2(1)(z)(c)(ii), 22(1), and 44(2)(ii) of the HFCs (NHB) Directions, 2010, para 3(I)(ii) & 7 of Master CircularHousing Finance Companies – Corporate Governance (NHB) Directions, 2016, para 3(i)(b)&(c) of Housing Finance CompaniesApproval of Acquisition or transfer of Control (NHB) directions, 2016 and para 2 of Master Circular — Fair Practice Code. 80000
2021-22
1 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED 05/07/2021 Contravention of Policy Circular No. 58 and 75 4,75,000
2 VARASHAKTI HOUSING FINANCE PRIVATE LIMITED 05/07/2021 Contravention of Para 28 of Hosing Finance Companies (NHB) Directions, 2010 and Policy Circular No. 41 1,35,000
3 NEW HABITAT HOUSING FINANCE AND DEVELOPMENT LIMITED 23/07/2021 Contravention of Para 28 of the Hosing Finance Companies (NHB) Direction, 2010 10,000
4 INDIA SHELTER FINANCE CORPORATION LIMITED 29/07/2021 Contravention of Para 22(2) of the Housing Finance Companies (NHB) Direction, 2010 and RBI Circular DOR.No.BP.BC.63 /21.04.048/2019-20 15,000
5 CENT BANK HOME FINANCE LIMITED 02/08/2021 Contravention of Para 2 of Master Circular – Fair Practices Code & Para 29 of Housing Finance Companies (NHB) Direction, 2010 5,000
6 ICICI HOME FINANCE LIMITED 13/08/2021 Contravention of Para 28 of the Housing Finance Companies (NHB) Direction, 2010 30,000
2022-23
1 LIC Housing Finance Limited 31-10-2022 Non-Compliance of provision of creating floating charge in favour of its depositors on a portion of the assets invested by it in terms of section 29B of NHB Act, and non-registration of such charge with the Registrar of Companies based on statutory inspection conducted by NHB with reference to its financial position as on March 31, 2020 (Penalty Imposed by RBI) 5,00,000
2 Saral Home Finance Limited 06-01-2023 Delayed submission of Schedule V Return for the position as on 31-10-2022. 3000
3 Panthoibi Housing Finance company Limited 13-01-2023 Delayed submission of Schedule V Return for the position as on 30-11-2022. 3000
4 Supreme Housing Finance Limited 13-01-2023 Delayed submission of Schedule V Return for the position as on 30-11-2022. 3000
5 Housing Development Finance Corporation Limited 17-03-2023 Non – transfer of matured deposits of certain depositors to designated bank accounts of such depositors during the period 2019-20 based on statutory inspection conducted by NHB with reference to its financial position as on March 31, 2020 (Penalty Imposed by RBI) 5,00,000
6 Panthoibi Housing Finance Company Limited 16-05-2023 Delayed submission of Schedule V return for the position January 2023, February 2023 and March 2023. 3,000

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.

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