Case Brief
The Reserve Bank of India imposed a monetary penalty on M/s Laxman Leafin Ltd, Hyderabad, a registered non-banking financial company. The penalty was levied under section 58-G(1) read with section 58-B(5)(aa) of the RBI Act, 1934 for violating RBI directions on issuance of non-convertible debentures and on acceptance of public deposits. The release adds that the company redeemed all debentures by March 31, 2015.
Action Snapshot
- Primary Impact
- Fine: Rs 2.00 L
- Entity Type
- NBFC
- Location
- Hyderabad
- Order Date