On Friday, DHFL which has now been taken over by the RBI for the insolvency proceedings announced that the NBFC company will not be able to declare its financial results due to be released on November 25 as the new administrator will have a discussion with the statutory auditor.
On November 20, the RBI superseded the board of debt laden DHFL as per the new changes in the law for resolving the issue under the IBC and also appointed the administrator. Then earlier in the day yesterday, the RBI appointed a 3-member committee to advise the administration for help in the recovery process of Rs 84000 crore, which the company owes to the system.
Please note that considering the above factors, as directed by the Administrator, the aforesaid scheduled date of declaration of the financial results i.e. November 25, 2019 is hereby postponed and the Board Meeting scheduled for such approval has also been deferred," it said. The revised date will be intimated in due course, it added.