DHFL Shares Fall Over 3% After Administrator Discusses Its Resolution

Shares of Dewan Housing Finance Corporation (DHFL) in early trade on December 31 fell more than 3% to Rs. 16.80 on the BSE against its previous close of Rs. 17.35 per share. The decline comes in the backdrop of RBI-appointed administrator meeting the company's committee of creditors (CoC) for discussing DHFL's resolution.

As per the company's website, creditors to DHFL, including employees, lenders and bondholders have together claimed dues under the insolvency resolution process amounting to Rs. 87,905.6 crore. Notably this does not entails fixed deposit holders to whom DHFL was obligated to pay Rs. 6,188 crore as on July 6. The claims have been submitted with the company's administrator R. Subramaniakum, a former MD and chief executive of Indian Overseas Bank.

In accordance with the PTI report, on December 30 R. Subramaniakum met the company's CoC for the first time and discussed resolution process for the stressed housing finance company together with the claims received from different creditors. On December 2, the crippled lending firm DHFL was admitted for insolvency proceedings.

Thereafter, the company's administrator in a public notice on December 4 had solicited all its creditors to submit their claims latest by December 17.

Last the shares of DHFL quoted lower by 1.44% or Rs. 0.25 at Rs. 17.10 on the BSE.

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