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Date: 28/01/2016
RBI imposes Monetary Penalty on M/s Laxman Leafin Ltd

The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹ 2.00 lakhs (Rupees two lakhs only) on M/s Laxman Leafin Ltd, Hyderabad, a registered Non-Banking Financial Company, 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.

Ajit Prasad
Assistant Adviser

Press Release: 2015-2016/1774

 
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