Business

DHFL defaults on ₹1,570.6 cr. NCDs, CP

Cash-strapped mortgage lender Dewan Housing Finance Corporation Ltd. has again defaulted on the repayment of principal and interest on commercial paper (CP) and non-convertible debentures (NCDs) worth an aggregate ₹1,570.6 crore.

The defaults occurred on August 16, the lender said in a notification to the exchanges on Monday.

DHFL is negotiating with lenders for a debt recast and had said earlier this month that the company may not be able to meet immediate future payment obligations. DHFL has a debt of ₹80,000 crore, including loans from commercial banks.

“…the company has approved in its special committee meeting, the draft resolution plan in terms of the 7th June circular issued by the Reserve Bank of India on the Prudential Framework for Resolution of Stressed Assets and has submitted the same to its lenders,” DHFL said.

DHFL closed 6.86% up at ₹49.05 on BSE.


Our code of editorial values

This article is closed for comments.
Please Email the Editor

Printable version | Feb 2, 2022 6:03:00 PM | https://www.thehindu.com/business/dhfl-defaults-on-15706-cr-ncds-cp/article29161183.ece

Next Story