Aditya Birla Housing Finance Limited (ABHFL) has been incorporated as a housing finance company under the Companies Act, 1956, regulated by the National Housing Bank (NHB).
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NHB in exercise of the powers vested under Section 52(A) of the National Housing Bank Act, 1987, has imposed a penalty of Rs.41,05,000/- on January 03, 2020 in connection with the inspection carried out with reference to its position as on March 31, 2018.
The above penalty has been imposed on account of non-compliance of Paragraph 28 of the Housing Finance Companies (NHB) Directions, 2010, Policy circular no.55 and Corporate Governance (NHB) Directions, 2016.
Reference: Policy circular no. NHB (ND)/DRS/Policy Circular No.93/2018-19 dated February 15, 2019