Legislature is Epitomized by an Unproductive Parliament
Executive Power is Controlled by Politicians
Judiciary is Outdated and Backlogged
Media is Biassed and has no Freedom of Speech
While the Four Voices of democracy are Amoral
A '5th VOICE' is born. Voice By The People, For The People.
Despite troubled with a huge standalone net loss of Rs. 2223 crore as on March 31,2019, the Dewan Housing Finance Corporation [DHFL],on Tuesday, assured that its lenders will not have to face any haircuts under the resolution plan.
As part of the resolution plan , which was cleared by the Special Committee of the DHFL Board on Tuesday , DHFL will put a moratorium of repayments and will also seek funding from Banks and the National Housing Board for restarting retail- lending.
The Plan will also take steps to address the asset- liability mismatch. It also plans to bring in a Strategic Investor. Further, it hopes to take Rs. 7000 Crore at Stake sale.It will bring down the promoter stake to 20-25 %. It will seek fresh loans while trying to extend the repayment tenure till Sep 25.
SBI-led consortium and Aion Capital are in the lead to take equity stake. The Company has appointed Ernst&Young as its Financial advisors.Meanwhile ,Deloitte has resigned as its Joint Statutory Auditor. The Company is in talks with audit firms to appoint a new auditor.
Out of the Rs. 1 lakh crore as the outstanding debt, 38% are from banks and 47% through debt borrowing. About 30 -odd banks have a collective exposure of Rs. 40,000 crore to DHFL [ Term loans of Rs. 24,000 crore & NCD investments of Rs. 16,000 crore]. Banks that have lent to DHFL has already signed an Inter-Creditor agreement and are also trying to work with bond holders including mutual funds and insurance companies on the resolution plan.
Copyright Kalyan Krishna MediaZ Private Limited. All rights reserved. Unless otherwise indicated, all materials on these pages are copyrighted by Kalyan Krishna MediaZ Private Limited. All rights reserved. No part of these pages, either text or image may be used for any purpose. By continuing past this page, you agree to our Terms of Service, Cookie Policy, Privacy Policy and Content Policies.
