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 | Saral Home Finance Limited | 06-01-2023 | Delayed submission of Schedule V Return for the position as on 31-10-2022. | 3000 |
2 | Panthoibi Housing Finance company Limited | 13-01-2023 | Delayed submission of Schedule V Return for the position as on 30-11-2022. | 3000 |
3 | Supreme Housing Finance Limited | 13-01-2023 | Delayed submission of Schedule V Return for the position as on 30-11-2022. | 3000 |
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.