Seven lenders, led by State bank of India (SBI), had filed an intervention plea seeking vacation from an earlier order. Other petitioners included Union Bank of India, HDFC Bank, and Indian Overseas Bank.
From assembly elections being held in Maharashtra and Haryana today to Telangana Police using a pioneering Facial Recognition System (FRS) technology to solve over 2 dozen cases including murder mysteries, here is what is making news Monday morning.
The mortgage financier owes banks Rs 38,000 crore and bondholders an additional Rs 34,000 crore. Mutual funds have an exposure of Rs 2,200 crore to the company via NCDs (non-convertible debentures) and Rs 180 crore of commercial paper.
DHFL crisis explained: On July 14, the housing finance company reported a net loss of Rs 2,223 crore for the fourth quarter (Q4) of 2018-19. The result was in stark contrast to Rs 134 crore of net profit that DHFL reported in the same quarter of the previous fiscal year (2017-18).