Millennium Post

DHFL: Resolution professional discusses plan with lenders

Mumbai: The Reserve Bank-appointed administrator Monday met committee of creditors (CoC) of Dewan Housing Finance (DHFL) and discussed about the resolution plan for the crippled lender and the Rs 87,905.6 crore worth of claims received from banks, employees and bond holders, sources said.

The administrator, R Subramaniakumar, met the committee of creditors for the first meeting after the stressed financier was admitted for insolvency proceedings on December 2.

"This was the first meeting of CoC. The RP (administrator) discussed about the resolution plan and the way forward," a banker who attended the meeting said.

All creditors of the company including banks, bond holders, insurance and mutual fund companies attended the meeting.

"The CoC also discussed about the claims which have been submitted by various creditors but a decision on that will be taken after through examination," said another banker.

On December 4, the administrator in a public announcement had asked all its creditors including fixed depositors to file their claims by December 17.

As per the latest available data, the company received Rs 86,892.30 crore from financial creditors including lenders, bondholders and Nabard among others.

The country's largest lender State Bank of India, including SBI Singapore, submitted a claim of Rs 10,082.90 crore. However, the claim which has been admitted so far from SBI and SBI Singapore is Rs 7,131.31 crore and Rs 2,951.59 crore is under verification.

The claims submitted by other lender include Rs 4,125.52 crore by Bank of India; Rs 2,681.81 crore by Canara Bank; Rs 2,378.05 crore by Union Bank of India; Rs 2,074.92 crore by Bank of Baroda and Rs 2,433.79 crore by National Housing Bank, among others.

Bond holders have submitted worth Rs 45,550.07 crore of claims.

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