DHFL resolution plan: Lenders to take zero haircut on principal amount

Firm seeks moratorium on repayments

After months of deliberation, cash-crunched Dewan Housing Finance Corporation (DHFL) finalised and placed a resolution plan before its lenders on Tuesday. 

The company, in an intimation to the stock exchanges, said  the draft resolution plan formulated in consultation with a special committee set up for the purpose and Ernst & Young, its financial advisor, was submitted to its lenders on Tuesday.

Following the development, the DHFL stock rose by 32.1 per cent on the BSE to close at Rs 55.4 apiece. However, this is hardly any relief for the company, given that the stock has lost significantly from over Rs 600 seen