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Business EconomyPosted at: Jan 29 2016 2:01PM


RBI imposes penalty of Rs 2 lakhs on M/s Laxman Leafin Ltd

Mumbai, Jan 29 (UNI) The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 2.00 lakhs (Rupees two lakhs only) on M/s Laxman Leafin Ltd, Hyderabad, a registered Non-Banking Financial
Company. RBI has imposed the penalty under section 58-G(1) read with sub section 5(aa) of section 58-B of the RBI Act,1934 for violation of the provisions of Issuance of Non-Convertible Debentures (Reserve
Bank) Directions, 2010 contained in the Notification IDMD.DOD.10/11.01.01 (A)/ 2009 dated June 23, 2010 and Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, contained in Notification No. DFC. 118/DG (SPT)-98 dated January 31, 1998, as amended vide Notification No. DNBS. (PD) 257/PCGM (NSV)-2013 dated June 27, 2013.
The company redeemed all the debentures by March 31, 2015., the RBI relase said.
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