Page 19 - Dhfl

Top 10 biz headlines: Auto sales down 23.5%, direct tax code delay & more

From PV sales declining for the 10th straight month to chances that the govt is unlikely to replace the Income Tax Act with the direct tax code, here are the top business headlines for Tuesday

Banks may miss September 25 deadline to approve DHFL resolution plan

Lenders ask firm to settle dues towards commercial papers and meet bank interest accrued till July 5

DHFL surges 12% on payment of pending amount to DSP Mutual Fund, IDBI AMC

DHFL is currently going through debt resolution process under the inter-creditor agreement led by banks

IDBI Mutual Fund moves Bombay High Court against cash-strapped DHFL

DHFL is currently going through debt resolution process under the inter-creditor agreement led by banks

Sebi letter ends MFs' hopes of joining DHFL resolution process

Regulator makes side-pocket mandatory for resolution process; over 100 exposed schemes fail to make the cut

DHFL board approves plan to convert debt into equity, sell assets

DHFL and other shadow banking firms have been stung by a liquidity crunch following last year's collapse of IL&FS

Cash-strapped DHFL appoints KK Mankeshwar as new statutory auditor

Cash-strapped housing financier DHFL on Monday said it has appointed KK Mankeshwar & Co as its statutory auditor. The company's move comes after resignation of auditors Deloitte Haskins & Sells and Chaturvedi & Shah this month. As per a BSE filing, the appointment of the new auditor comes into effect from August 26. The decision was taken at the company's board meeting held on Monday. The company "on the recommendation of the Audit Committee and subject to the approval of the shareholders of the company, appointed K K Mankeshwar & Co...as the statutory auditors...with effect from August 26, 2019 till the conclusion of ensuing 35th AGM and also from the conclusion of the 35th AGM till the conclusion of the 40th AGM", the filing said. DHFL said its board also took on record the resignation of Chaturvedi & Shah LLP, in terms of the communication received by the company on August 25. Reportedly, auditors Deloitte Haskins & Sells and Chaturvedi & Shah quit due .

Sundaram MF withdraws DHFL side-pocket, says not in-line with Sebi norms

Proposal was not in-line with Sebi norms on creating a separate portfolio for affected asset

Number of NBFCs drops to lowest in 10 yrs in India as crackdown accelerates

RBI has also tightened regulations this year by putting in place rules requiring shadow lenders to appoint a chief risk officer and proposing stringent liquidity requirements

Top 10 biz headlines: Suitors for RCom assets grow, FPI norms eased & more

From Anil Agarwal and Mukesh Ambani joining the suitors' list for acquiring RCom assets to Sebi easing the process for onboarding overseas investors, here are the top business headlines for Thursday

DHFL looks for a buyer, in talks with investors to sell majority stake

Some of the banks in the consortium, however, are not comfortable about taking a majority stake in the company

Top 10 business headlines: GDP estimates for Q1FY20, CG Power fiasco & more

From a probe at CG Power finding fraudulent related-party transactions to the IL&FS board seeking NCLT approval to sell 7 wind assets to Orix Corp, here are the top business headlines for Wednesday

DHFL resolution: Banks may convert debt into equity, says Union Bank

DHFL has become the poster-boy of the NBFC crisis that afflicted the financial sector after the infra-lender IL&FS went belly up last September

Top 10 biz headlines: Firms may get tax relief, fresh DHFL default & more

From DTC task force recommending slashing of corporate tax to 25% for domestic and foreign firms to DHFL defaulting on financial repayment obligations, here are the top business headlines for Tuesday

Cash-strapped DHFL makes fresh default on Rs 1,571-crore bond repayments

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), DHFL said in a regulatory filing

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

Increased forced lending to NBFCs can land banks in trouble: Fitch report

NBFC disbursements have declined steeply as a result, with knock-on effects to other sectors, particularly consumption

Top 10 biz headlines: Auto crisis worsens, India Inc gets CSR relief & more

From Amazon closing in on buying stake in Future Retail to Japan cautioning Andhra against reworking green power pacts, here are the top ten business headlines on Wednesday

DHFL resolution plan: Stakeholders seek legal protection from future claims

The stakeholders want protection from any litigation which might arise due to fresh claims against the company

Economic downturn raises default risks, puts stimulus package in focus

The credit market has been stung by a yearlong shadow banking crisis that started with shock defaults last year by IL&FS group