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DHFL sets record as India's housing finance company to go bankrupt

DHFL sets record as India's housing finance company to go bankrupt
  • RBI sent Dewan Housing Finance Corporation (DHFL) to the bankruptcy tribunal.

  • It the first NBFC and HFC to be resolved under the insolvency and bankruptcy code.

  • There will an interim moratorium on the lender between the date of filing of the bankruptcy application and its admission.
The Reserve Bank on Friday sent the crippled Dewan Housing Finance Corporation (DHFL) to the bankruptcy tribunal, making it the first NBFC/HFC to be resolved under the insolvency and bankruptcy code.

The central bank also said there will an interim moratorium on the lender between the date of filing of the bankruptcy application and its admission or rejection.

The city-headquartered pureplay mortgage lender becomes the first NBFC/HFC to go for bankruptcy resolution.

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