 "Dewan Housing Finance")
The resolution plan of one of India’s biggest shadow banking firms, Dewan Housing Finance Ltd (DHFL), may be delayed as its creditor DSP Mutual Fund has initiated legal proceedings against it, two banking sources told Reuters.
DHFL ran into trouble late last year as cracks in the shadow banking system in India began to emerge after the near collapse of another financial firm, IL&FS, stoking fears of a broader contagion.
In July, DHFL said it was “undergoing substantial financial stress” and may not survive as a going concern. Its auditors then raised several red flags around its financials, deepening worries that a
