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Regular-article-logo Monday, 06 May 2024

DHFL dues burden at Rs 87,000cr

Resolution plan discussion for the crippled lender

PTI Mumbai Published 30.12.19, 08:21 PM
The administrator, R. Subramaniakumar, met the committee of creditors for the first meeting after Dewan Housing Finance was admitted for insolvency proceedings on December 2.

The administrator, R. Subramaniakumar, met the committee of creditors for the first meeting after Dewan Housing Finance was admitted for insolvency proceedings on December 2. (Shutterstock)

The Reserve Bank-appointed administrator on Monday met the committee of creditors (CoC) of Dewan Housing Finance (DHFL) and discussed about the resolution plan for the crippled lender and the Rs 86,892.30-crore worth of claims received from banks and bond holders, sources said.

The administrator, R. Subramaniakumar, met the committee of creditors for the first meeting after the stressed financier was admitted for insolvency proceedings on December 2.

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“This was the first meeting of the CoC. The RP (administrator) discussed about the resolution plan and the way forward,” a banker who attended the meeting said.

All creditors of the company, including banks, bond holders, insurance and mutual fund companies attended the meeting.

“The CoC also discussed about the claims which have been submitted by various creditors but a decision on that will be taken after a through examination,” said another banker.

On December 4, the administrator in a public announcement had asked all its creditors, including fixed depositors, to file their claims by December 17.

According to the latest available data, the company received Rs 86,892.30 crore from financial creditors, including lenders, bondholders and Nabard. State Bank of India, including SBI Singapore, submitted a claim of Rs 10,082.90 crore. However, the claim admitted so far from SBI and SBI Singapore is Rs 7,131.31 crore, while Rs 2,951.59 crore is under verification.

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