Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹30.00 lakh on Bahadur Chand Investments Private Limited, New Delhi. RBI said the company had failed to comply with certain provisions of the Core Investment Companies (Reserve Bank) Directions, 2016 and directions on the Information Technology Framework for the NBFC Sector, including outsourcing-related requirements, appointment of key IT/governance personnel, and required disclosures in annual financial statements. The penalty was imposed after RBI’s inspection, issuance of a show-cause notice, and review of the company’s response and oral submissions, and was taken under the RBI Act, 1934.
Action Snapshot
- Primary Impact
- Fine: Rs 30.0 L
- Entity Type
- NBFC
- Location
- New Delhi