DHFL creditors to meet on Mon for discussing resolution

Mumbai: The Reserve Bank of India-appointed administrator of the crippled Dewan Housing Finance Ltd (DHFL) called for a meeting of its creditors for the first time on Monday after the mortgage lender was admitted for insolvency proceedings.

The third-largest pure play mortgage player is the first non-banking financial company or housing finance company to face the corporate insolvency resolution process.

The Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company for insolvency resolution on December 2 and R Subramaniakumar as the company's administrator.