 "DHFL")
In its first action against the troubled housing finance company, the Reserve Bank of India (RBI) on Wednesday superseded the board of Dewan Housing Finance Corporation (DHFL) over governance concerns and defaults on payment obligations.
The RBI said in a statement that it had appointed R Subramaniakumar, former managing director and chief executive of Indian Overseas Bank, as the administrator of DHFL, to run the affairs of the entity which was once controlled by the Wadhawan family.
The RBI will soon initiate the process for resolution of the company under the Insolvency and Liquidation Proceedings of Financial Service Providers and Application to
