Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹10,000 on Viva Home Finance Limited, Palghar, Maharashtra, under Section 52A of the National Housing Bank Act, 1987. The penalty followed supervisory findings and a show-cause process in which RBI concluded that the company failed to obtain prior written permission for the appointment of a Whole-time Director, resulting in a change of more than 30% of the directors excluding independent directors, in breach of applicable RBI directions for NBFC-HFCs.
Action Snapshot
- Primary Impact
- Fine: Rs 10,000
- Entity Type
- NBFC
- Location
- Palghar, Maharashtra
- Order Date