Page 3 - Dewan Housing Finance Dhfl

KPMG forensic audit finds fund diversion from DHFL to promoter-led entities

The forensic audit report said DHFL could not provide a robust and well-defined tracking mechanism for end-use of funds disbursed by the company

DHFL crisis set to linger on as forensic audit points to fund diversion

The third-largest mortgage lender had sought a Rs 15,000-crore lifeline from the lenders as they finalise the resolution plan

DHFL nears 14-year low after Edelweiss moves HC to recover dues

The stock of housing finance company was trading at its lowest level since March 2009 and was trading near its 14-year low of Rs 23.25, touched on May 2005.

'Sitting ducks': $63 bn of zombie buildings sound alarm for Indian banks

As lenders stop new credit, builders are forced to offload properties

Banks may take majority stake in DHFL, convert part of debt into equity

DHFL owes banks Rs 40,600 crore. It also has a liability of Rs 45,380 crore to pay the holders of debentures and bonds

Cash-strapped DHFL seeks Rs 15,000-crore immediate funding from banks

Home financier DHFL owes an estimated Rs 90,000 crore to banks, National Housing Bank and other creditors

DHFL says it may not be able to fulfill its immediate debt payments

DHFL had earlier said its creditors would not have to take any haircut on principal payments under its resolution plan.

Dealing with DHFL

Asset destruction should be minimised

Auditors sought additional information on crisis-ridden DHFL accounts

The audit committee of DHFL in its board meeting on July 13 asked the management to provide the audited financial results of the company by July 22

MFs differ with banks over DHFL resolution, may opt for the DRT route

A meeting is now scheduled between banks and MFs to find a path that can secure the interests of both sets of players

DHFL tanks 29% on Rs 2,223 crore net loss in Q4; hits 10-year low

The company on Saturday reported a standalone net loss of Rs 2,223 crore for the quarter ending March 2019 (Q4F19), owing to higher provisioning.

DHFL seeks Rs 1,500 cr fresh loans a month to service Rs 80,000 cr debt

Under the proposal, Dewan Housing will offer banks new loan pools as security for the funds, That in turn will help lenders meet their mandatory targets to lend to farmers and small businesses

Letter to BS: More power to RBI to regulate housing finance is welcome

The NBFCs must make arrangements to improve the liquidity position to prevent further defaults

DHFL lenders to meet today to seek resolution to Rs 90,000-crore debt

Lenders of troubled NBFC DHFL are scheduled to meet Monday, seeking a solution for the Rs 90,000 crore debt that is owed to them. The consortium of 30 lenders led by state-run Union Bank of India, which includes banks and other financial institutions, may also consider conversion of debt into equity that can make them the largest shareholder in the mortgage lender, sources said over the weekend. The debt recast plan will be arrived at as per the RBI's revised circular on resolving asset quality stress, they said. The circular gives lenders a 30-day period since default to arrive at a debt recast plan. DHFL's promoter group, the Wadhawan family which owns over 39 per cent of the firm, has been looking at various ways of coming out of the stress which first came to light late last year following the IL&FS crisis. These include selling stakes in group companies, while they are also reportedly fine with giving up half of their stake in the listed company. According to .

DHFL gets Sebi nod for exiting MF arm, sell its stake to JV partner

As per regulatory norms, fund house will have to give load-free exit window to investors; expets advise staying put in order to look for recovery