DHFL to make payments to lenders with securitisation arrangements: Bombay HC

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.

Samajwadi Party demands sacking of UP minister, judicial probe in UPPCL PF scam

The Samajwadi Party on Monday demanded a probe by a sitting high court judge into the investment of over Rs 2,600 crore of UP power corporation employees' provident fund.


Express Daily Briefing: Maharashtra, Haryana Assembly polls underway; debt-laden DHFL loaned to firms tied to its promoters; more

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.

Debt-laden DHFL loaned to firms tied to its promoters: ED probe

Kapil Wadhawan and Dheeraj Wadhawan, popularly known as Baba Dewan, are the promoters of DHFL, a housing finance company that has a debt of Rs 1 lakh crore.

DHFL loans may be converted to equity

The promoter, bankers familiar with the plan said, would also be required to pledge a part of their remaining stake to lenders (which would be below 10 per cent).

Converting DHFL debt into equity will be ‘short term’: Union Bank

Taking temporary control of the mortgage firm is an option banks are considering and they are still waiting for mutual funds (MFs) to sign the inter creditor agreement (ICA), Rai added.


DHFL says it may default on near-term payments

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 proposes moratorium on repayment, says no haircut for banks

DHFL said its auditor Deloitte, Haskins & Sells LLP had resigned, citing irregularities in firm’s financial statements for year ended March 2019.

Explained: Why you should care about DHFL crisis

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).

‘Ability to raise funds substantially impaired’, DHFL shares drop 29%

Expect to ‘restart business in August 2019’, company says in statement on Monday.