Bombay HC allows Edelweiss AMC's plea for disclosure of all DHFL assets

The Bombay High Court (HC) on Thursday allowed Edelweiss AMC’s plea seeking disclosure of assets and liabilities of Dewan Housing Finance Corporation (DHFL). 

The court also extended the injunction on DHFL from making repayments to either secured or unsecured lenders, until further order. 

The court gave four weeks’ time to DHFL to file its reply. The court was hearing both Nippon India Mutual Fund and Edelweiss AMC’s pleas in the matter pertaining to DHFL dues.

Shares tumble 10%

Shares of DHFL continued with their downtrend as they tumbled nearly 10 per cent and hit their lower circuit limit on Thursday, after Edelweiss Asset Management approached the High Court for recovery of dues from the troubled firm.

The stock nosedived 9.98 per cent to close at Rs 23.45 on the BSE. On the NSE, the scrip slumped 9.96 per cent to settle at Rs 23.50. The stock hit the lower circuit, as well as a 52-week low, on both stock exchanges, and settled on the same. Shares of DHFL have been on a decline since October 4, and have lost as much as 24.96 per cent since then.

In a clarification to the exchanges on Thursday, Edelweiss Financial Services said its subsidiary Edelweiss Asset Management has approached the Bombay High Court for recovery of principal and interest dues from DHFL. 

“Our subsidiary, Edelweiss Asset Management has approached the Mumbai High Court for recovery of principal and interest dues from DHFL” Edelweiss Financial Services said in a BSE filing on Thursday.