Tata MF moves NCLT to recover Rs 120 cr from DHFL, others may go legal too

Tata Mutual Fund (MF) has approached the National Company Law Tribunal (NCLT), seeking repayment of over Rs 120 crore worth of dues from Dewan Housing Finance Corporation (DHFL). People in the know said that the fund house has sought certain disclosures from the debt-troubled housing finance company.

The next hearing on the matter is expected to be held in the second week of November. Industry insiders said the slow pace of progress on the inter-creditor agreement (ICA) may prompt other MFs to take the legal route to recover their dues as well.

Among other fund houses, Nippon India MF, Edelweiss Asset Management