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dhfl
“If DHFL goes under liquidation, it will be sold and someone else will take over. Insurance companies are also part of the inter-creditor agreement. So they will also get proceeds that are available on sale of the company,” said Khuntia. He also said the insurance subsidiaries of DHFL—DHFL Pramerica Life Insurance and DHFL General Insurance—have adequate solvency and that there is no cause for concern.
Write off DHFL exposure
07 Dec 2019 2:28 AM

Like in IL&FS, a similar procedure will have to be followed: Khuntia

The move came in after the Reserve Bank last Friday referred DHFL to the NCLT Mumbai to resolve the debt crisis at the third largest pure-play mortgage player.
DHFL stock falls nearly 5 pc after NCLT admits RBI's petition
03 Dec 2019 5:05 PM

Shares of the troubled firm fell 4.82 per cent to close at Rs 18.75 apiece on the BSE.

The Reserve Bank on Friday sent the troubled mortgage lender for bankruptcy proceedings, making it the first financial services player to go to the NCLT for a possible debt resolution.
DHFL shares fall nearly 5 pc as RBI starts resolution process
02 Dec 2019 4:42 PM

Over 17 lakh shares of DHFL were traded on the NSE, while the BSE saw an exchange of 4.51 lakh shares.

The central bank also said there will an interim moratorium on the lender between the date of filing of the bankruptcy application and its admission or rejection.
RBI sends DHFL to NCLT for resolution
29 Nov 2019 4:22 PM

The city-headquartered pureplay mortgage lender becomes the first NBFC/HFC to go for bankruptcy resolution.

IDFC First Bank's Non-Executive Chairman Rajiv Lall, ICICI Prudential Life Insurance's Managing Director and Chief Executive N S Kannan, and mutual funds' association AMFI's Chief Executive N S Venkatesh would be part of the panel, an official statement said.
RBI appoints 3-member advisory panel for DHFL
22 Nov 2019 3:02 PM

RBI superseded DHFL's board and placed company under an administrator in the wake of governance issues and severe liquidity crisis.

Banks will now become even more cautious about non-banking financial companies as going to bankruptcy court destroys values because the realisation may not be much.
Govt to start DHFL's bankruptcy proceedings in latest shadow banking crisis
21 Nov 2019 10:35 AM

DHFL’s owes its lenders nearly 1 trillion rupees including several mutual funds, banks, pension funds, insurance firms and retail investors.

Ind-Ra has rated bonds of UPPCL totalling Rs 19,989 crore which were raised during FY17 and FY18. (Photo: ANI)
Provident fund investment issues to impact UPPCL financials: Ind-Ra
11 Nov 2019 10:59 AM

UPPCL has been stepping it up to meet the enhanced principal repayment obligation as and when required.

DHFL is currently classified as stressed account but will slip into becoming a Non-Performing Assets (NPA) by December 31 unless a resolution is found.
Govt not planning to help banks rescue shadow lender DHFL: sources
07 Nov 2019 1:38 PM

DHFL’s creditors include mutual funds, pension funds, insurance firms and a wide array of retail investors.

On October 29, a senior official said there were good enough reasons to refer the DHFL matter to the SFIO.
Govt orders SFIO probe against crisis-hit DHFL
01 Nov 2019 4:40 PM

A forensic audit by KPMG has reportedly found massive fund diversion by the promoters.

DHFL posted a net loss of 2.06 billion rupees during the quarter compared with a profit of 4.35 billion rupees in the same period a year earlier.
DHFL reports USD 29 million loss in June quarter
18 Oct 2019 9:10 AM

The Company is undergoing substantial financial stress since (the) second half of the previous financial year.

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