DHFL Defaults On Repayment Of NCDs Worth ₹50 Crore
Money & Banking
Distressed Dewan Housing Finance Corporation Ltd (DHFL) has defaulted on payment for a principal amount of ₹50 crore of secured non-convertible debentures. The payment was due on July 3.
“The company is currently under moratorium pursuant to Section 14 of the Code since November 29, 2019 and hence, the company is not in a position to make payment of interest or principal to any of the lenders of the company including the NCDs holders,” it said in a regulatory filing.
It further said the payments to the lenders or NCD holders remains in abeyance and will be subject to the outcome of the CIRP process.
DHFL reported a loss of ₹13,575.15 crore (including comprehensive Income) in 2019-20. The board of directors of DHFL was superseded by the Reserve Bank of India in November last year and the company is currently going through corporate insolvency resolution under the IBC.
Published on
July 05, 2020
Distressed Dewan Housing Finance Corporation Ltd (DHFL) has defaulted on payment for a principal amount of ₹50 crore of secured non-convertible debentures. The payment was due on July 3.
“The company is currently under moratorium pursuant to Section 14 of the Code since November 29, 2019 and hence, the company is not in a position to make payment of interest or principal to any of the lenders of the company including the NCDs holders,” it said in a regulatory filing.
It further said the payments to the lenders or NCD holders remains in abeyance and will be subject to the outcome of the CIRP process.
DHFL reported a loss of ₹13,575.15 crore (including comprehensive Income) in 2019-20. The board of directors of DHFL was superseded by the Reserve Bank of India in November last year and the company is currently going through corporate insolvency resolution under the IBC.
Published on
USAA Announces Scholarship For Military Spouses With Valero Alamo Bowl
San Antonio-area military spouses qualify to apply for a $7,500 scholarship. Read more
USAA Ranked #1 In Customer Satisfaction And Most Trusted On 2024 J.D. Power Individual Annuity Study
Nov 01 2024 SAN ANTONIO – USAA, a leading provider of insurance, banking, and retirement... Read more
USAA Calls For National Moment Of Veteran Connection On Veterans Day
On Nov. 11, “Connect with a Veteran” calls for all Americans to “Go Beyond Thanks” to show appreciation for thei... Read more
Two Way Street: New Survey From USAA Shows Driving Apps Help Connect Parents And Young Drivers On Importance Of Safe Driving, Leading To Safer Roads
Data Reveals 87% of App-Using Parents Feel Their Child’s Driving Improved, Citing Increased Awareness and Feedback Read more
USAA Named UTSA Athletics Official Military Appreciation Partner
Exciting new initiatives planned as part of partnership Read more
USAA And Its Members Donate Nearly $3 Million To Aid In Recovery From Hurricanes Helene And Milton
USAA members have donated nearly $1.4 million; USAA adds $500,000 to initial $1 million and offers guidance on assisting... Read more