Regulatory Requirement
Bajaj Housing Finance Limited (BHFL) has been incorporated as a housing finance company under the Companies Act, 1956 and is registered as a Housing Finance Company with the National Housing Bank. Intimation of penalties on BHFL.
| Sr. no. | Issuing Authority | Description |
|---|---|---|
| 1 | NHB | "NHB in exercise of the powers vested with it under the National Housing Bank Act, 1987 has imposed penalty of Rs. 5,000/- on 06/11/2019" on account of contravention of para 10 (5) of issuance of NCDs on private placement basis (NHB) Direction, 2014." |
| 2 | NHB | "NHB in exercise of the powers vested with it under the National Housing Bank Act, 1987 has imposed penalty of Rs. 50,000/- on 01/09/2020 on account of contravention of para 27A of the Housing Finance Companies (NHB) Directions, 2010 and para 10 (2) of issuance of NCDs on private placement basis (NHB) Direction, 2014" |
| 3 | RBI | RBI in exercise of powers vested with it under the provisions of National Housing Bank Act, 1987, has imposed a monetary penalty of Rs. 5.00 lakh (Rupees Five lakh only) vide its order dated January 29, 2024 received by the Company on February 02, 2024, on account of contravention of para 45.3 of Non-Banking Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021 which requires prior written permission from RBI for change in management resulting in change in more than 30% of the non-independent directors. The said penalty was imposed for not seeking the prior permission of RBI with respect to appointment of Shri Atul Jain as Director on the Board of the Company with effect from May 01, 2022 which resulted into change of more than 30% in non-independent directors. |
