The National Housing Bank (NHB) imposed a penalty of Rs 80,000 on PNB Housing Finance for failing to meet loan disbursement standards in 2015.
However, the company has asked the regulator to reconsider the sanction.
In a letter dated June 11, NHB advised the company to pay a fine of Rs 80,000 plus GST for failing to comply with the policy regarding the disbursement of mortgage loans in 2015, PNB Housing Finance said in a filing on Tuesday. regulatory.
Housing loan disbursements were linked to the Pushpban and Chaitraban projects located in a village in Pune, promoted and developed by DSK.
“The company made a representation to NHB on June 14, 2021, to reconsider the sanction as this matter had already been handled by the NHB in October 2019 and a cautionary notice was subsequently issued,” PNB Housing Finance said.
Shares of PNB Housing closed Tuesday at Rs 738.05 each on BSE, down 4.99% from the previous close.
(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
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