Dewan Housing Finance Corp misses interest payment of Rs 960 crore

According to people in the know, several fund houses also had their interest payment due dates on Tuesday

Dewan Housing Finance Corporation (DHFL) was unable to meet its debt-related obligations on Tuesday as it missed interest payments worth Rs 960 crore.

Company sources said: “According to the trust deed, if interest payment on the non-convertible debentures is not met on the due date, there is a cure period of seven working days to meet the obligation. In case the non-payment continues post that cure period¸ only then the same shall constitute an event of default.”

“The company is taking all steps necessary to ensure that the interest payment is made within the cure period,” they added.

According to people in the