Case Brief
RBI, by order dated November 25, 2025, imposed a monetary penalty of ₹3.10 lakh on Mannakrishna Investments Private Limited. The penalty was for non-compliance with the Master Direction – RBI (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023, specifically in relation to governance issues. RBI found that the company had failed to obtain prior written permission before appointing a director, which resulted in a change in management because more than 30% of its directors (excluding independent directors) changed. The action followed a statutory inspection, a show-cause notice, and consideration of the company’s reply and oral submissions. RBI stated the penalty was without prejudice to any other action that may be initiated.
Action Snapshot
- Primary Impact
- Fine: Rs 3.10 L
- Entity Type
- NBFC
- Action Type