NHB imposes penalty on Can Fin Homes Limited

National Housing Bank vide its letter dated 11/06/2021, has imposed a penalty of Rs.29,13,234/- plus applicable GST @18%, on Can Fin Homes Limited.

NHB had observed that the Company had accepted individual deposits aggregating to Rs. 14,56,617/- from five small depositors for a period of less than 12 months, in contravention with provisions of Para 4 of the HFCs (NHB) Directions, 2010.

The Company had replied to NHB that five deposits aggregating to Rs.14,56,617/- (out of about 4000 deposits), were accepted in the year 2018-19 for a tenure of less than 12 months by three of its branches inadvertently. NHB has imposed a penalty of twice the amount of deposits collected, i.e., Rs.29,13,234/-

Shares of CAN FIN HOMES LTD. was last trading in BSE at Rs.524.15 as compared to the previous close of Rs. 526.6. The total number of shares traded during the day was 23472 in over 1273 trades.

The stock hit an intraday high of Rs. 529.15 and intraday low of 515.7. The net turnover during the day was Rs. 12267386.

Source : Equity Bulls

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