¹[52A. Power of National Housing Bank and Reserve Bank to impose ²[penalty].— (1) Notwithstanding anything contained in section 49, if the contravention or default of the nature referred to in the said section is committed by a housing finance institution which is a company, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such company—

(a) a penalty not exceeding ³[twenty-five thousand]; or

(b) where the contravention or default is under sub-section (2A) or clause (a) ⁴*** of sub-section (3) of that section, a penalty not exceeding ⁵[ten lakh] rupees or twice the amount involved in such contravention or default, where the amount is quantifiable, whichever is more; and where such contravention or default is a continuing one, further penalty which may extend to ⁶[one lakh] rupees for every day, after the first, during which the contravention or default continues.

⁷ [(1A) If any person or housing finance institution which is a company fails to produce any book, account or other document, or to furnish any statement or information, which, under the provisions of this Act, is the duty of such person or housing finance institution to produce or furnish, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such person or housing finance institution, a penalty not exceeding one lakh fifty thousand rupees in respect of each contravention or default and where such contravention or default is a continuing one, further penalty which may extend to seven thousand five hundred rupees for every day, after the first, during which the contravention or default continues.
(1B) If any auditor fails to comply with any direction given or order made by the National Housing Bank or the Reserve Bank under section 33, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such person a penalty not exceeding ten lakh rupees.

(1C) If any person (other than an auditor) or housing finance institution which is a company fails to comply with any direction given or order made by the National Housing Bank or the Reserve Bank under any of the provisions of Chapter V, the National Housing Bank or the Reserve Bank, as the case may be, may impose on such person or housing finance institution, a penalty not exceeding ten lakh rupees or twice the amount involved in such contravention or default, where the amount is quantifiable, whichever is more; and where such contravention or default is a continuing one, further penalty which may extend to one lakh rupees for every day, after the first, during which the contravention or default continues.
(1D) If any other provision of this Act is contravened or if any default is made in complying with any other requirement of this Act, or of any order, regulation or direction made or given or condition imposed thereunder, the National Housing Bank or the Reserve Bank, as the case may be, may impose on any person or housing finance institution which is a company, guilty of such contravention or default, a penalty not exceeding one lakh rupees in respect of each contravention or default and where such contravention or default is a continuing one, further penalty which may extend to ten thousand rupees for every day, after the first, during which the contravention or default continues.]
(2) For the purpose of imposing penalty under ⁸ [this section], the National Housing Bank or the Reserve Bank, as the case may be, shall serve a notice on the ⁹[person or housing finance institution] which is a company requiring it to show cause why the amount specified in the notice should not be imposed as a penalty and a reasonable opportunity of being heard shall also be given to such ¹⁰[person or housing finance institution.]
(3) Any penalty imposed by the National Housing Bank or the Reserve Bank, as the case may be, under this section shall be payable within a period of thirty days from the date on which notice issued by the National Housing Bank or the Reserve Bank, as the case may be, demanding payment of the sum is ¹¹[served on the person or housing finance institution] which is a company and, in the event of ¹²[failure of such person or housing finance institution] to pay the sum within such period, may be levied on a direction made by the principal civil court having jurisdiction in ¹³[the area where such person ordinarily resides or, as the case may be, the registered office] or the head office of such housing finance institution is situated :

Provided that no such direction shall be made, except on an application made by an officer of the National Housing Bank or the Reserve Bank, as the case may be, authorised in this behalf, to the principal civil court.

(4)The court which makes a direction under sub-section (3), shall issue a certificate specifying the sum payable by the ¹⁴[person or] housing finance institution which is a company and every such certificate shall be enforceable in the same manner as if it were a decree made by the court in a civil suit.

(5) No complaint shall be filed against any housing finance institution which is a company in any court of law pertaining to any contravention or default in respect of which any penalty has been imposed by the National Housing Bank or the Reserve Bank, as the case may be, under this section.

(6) Where any complaint has been filed against a housing finance institution which is a company in a court in respect of contravention or default of the nature referred to in section 49, no proceedings for imposition of penalty against such housing finance institution shall be taken under this section.]



1. Subs. by Act 23 of 2019, s. 172, for section 52A (w.e.f. 9-8-2019).
2. Subs. by Act 18 of 2023, s. 2 and Schedule, for fine (w.e.f. 22-1-2024).
3. Subs. by s. 2 and Schedule, ibid., for five thousand (w.e.f. 22-1-2024).
4. The word, brackets and letters or clause (aa) omitted by s. 2 and Schedule, ibid., (w.e.f. 22-1-2024).
5. Subs. by s. 2 and Schedule, ibid., for five lakh (w.e.f. 22-1-2024).
6. Subs. by s. 2 and Schedule, ibid., for twenty-five thousand (w.e.f. 22-1-2024).
7. Ins. by s. 2 and Schedule, ibid., (w.e.f. 22-1-2024).
8. Subs. by s. 2 and Schedule, ibid for "sub-section (1)" (w.e.f. 22-1-2024).
9. Subs. by s. 2 and Schedule, ibid., for "housing finance institution " (w.e.f. 22-1-2024).
10. Subs. by s. 2 and Schedule, ibid., for "served on the housing finance institution " (w.e.f. 22-1-2024).
11. Subs. by s. 2 and Schedule, ibid., for "failure of such housing finance institution " (w.e.f. 22-1-2024).
12. Subs. by s. 2 and Schedule, ibid., for "the area where the registered office " (w.e.f. 22-1-2024).
13. Ins. by s. 2 and Schedule, ibid., (w.e.f. 22-1-2024).