 "RBI, Reserve Bank of India")
The Reserve Bank of India (RBI) on Friday said it had initiated insolvency proceedings against troubled mortgage lender Dewan Housing Finance (DHFL) and filed an application in the bankruptcy tribunal for the resolution of its liabilities to the tune of Rs 83,873 crore.
DHFL is the first financial services firm that has been referred to the National Company Law Tribunal (NCLT) after the Union government notified the financial services insolvency rules on November 15.
An interim moratorium on the assets of the beleaguered company has also commenced following the RBI’s application, and will continue till it is accepted or rejected by the
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