DHFL Insolvency Process Starts, Investors' Claims Sought

In a major development, the RBI-appointed Administrator for the beleaguered Dewan Housing Finance Ltd (DFHL) on Thursday asked all its fixed deposit and non-convertible debenture holders to file their claims before December 17, The Economic Times reported. The move comes ahead of the Supreme Court hears a group of investors who have moved it on the matter, and barely three days after the National Company Law Tribunal's Mumbai bench admitted the RBI's application for initiating insolvency proceedings against the cash-strapped firm, and permitted it to go ahead in the matter. The DHFL is said to owe over Rs 15,000 crores to retail investors who have been running from pillar to post to get their money back from the failed NBFC since some time. Read more