KLM Axiva Finvest Limited

RBI imposed a monetary penalty of ₹2.70 lakh on KLM Axiva Finvest Limited for non-compliance with its auction-procedure directions. The company was found to have withheld surplus proceeds from the auction of pledged gold articles from certain borrowers.

KLM Axiva Finvest Limited must bear the monetary penalty, but the release does not impose any new operational restriction or licence impact. The finding relates to past non-compliance and signals possible further regulatory action, while directly affecting borrowers entitled to surplus auction proceeds.

• Section 58-G(1)(b) read with Section 58-B(5)(aa) of the Reserve Bank of India Act, 1934

RBI imposed a ₹10 lakh penalty on KLM Axiva Finvest Limited for breaching dividend-declaration requirements under its NBFC scale-based regulation directions.

KLM Axiva Finvest Limited must bear the ₹10 lakh penalty, but the release does not impose an operational restriction or cancel any authorization. The finding may also support any further action RBI chooses to initiate in future, but no additional forward-looking restriction is stated in this order.

• clause (b) of sub-section (1) of Section 58G
• clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934