City
Epaper

DHFL management meets MCA top brass over repayment, liquidity

By IANS | Updated: June 27, 2019 09:45 IST

Top NBFC DHFL management met Ministry Of Corporate Affairs (MCA) officials to brief them on the current situation of the firm where the NBFC is learnt to have informed them of the liquidity and payment schedules.

Open in App

Official sources said the MCA officials on Wednesday were informed of the initiatives being taken by DHFL on this and that it was working with lenders to tide over liquidity crunch and repayment of dues.

DHFL had defaulted for a second time this month on payment of dues. It repaid Rs 150 crore of the outstanding Rs 375 crore earlier.

It told the offucuaks that the NBFC would clear the remaining CP Maturity Payment in a week.

The State Bank of India is the largest lender to DHFL at Rs 10,000 crore and the NBFC has also repaid about Rs 40,000 crore of its obligations since September 2018.

The NBFC is also understood to have informed the MCA that induction of a strategic partner would take time.

On Wednesday, DHFL got the Sebi's nod for exiting MF arm and sell its stake to JV partner.

The NBFC will now facilitate a load-free exit window to investors in-line with the Sebi requirement for change in control and other fundamental attribute changes.

Sebi norms require a fund house to give exit option to unit holders without any exit load if there is any ch ange in fundamental attributes of a scheme or trust or any other change affecting interests of the unit holders.

( With inputs from IANS )

Open in App

Related Stories

InternationalOver nine million people in Afghanistan face acute food insecurity: UN

EntertainmentActor Chaams changes his name to 'Java Sundaresan'

TechnologySeoul shares break 3,500 for 1st time on chip rally

BusinessSeoul shares break 3,500 for 1st time on chip rally

InternationalFrom Xinjiang to South China Sea, China's actions spark global concern

कारोबार Realted Stories

BusinessLG Energy Solution to resume business trips to US following Georgia detention

BusinessIndia gets 249 applications under electronics component scheme: IT Ministry

BusinessIndia’s electronics component scheme attracts over Rs 1 lakh crore: Ashwini Vaishnaw

BusinessGST rate cuts to boost Uttar Pradesh's craft and industrial clusters

BusinessBanks likely to report soft Q2 performance amid NIM pressures and higher credit costs: Axis Securities