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. "Since the resolution professional (administrator) has now been appointed, he is meeting all the creditors and will discuss the way forward for resolution of the company," a source told PTI. The meeting on Monday will be attended by all creditors of the company including banks, bondholders, insurance and mutual fund companies. Citing governance issues and severe liquidity crisis, the regulator on November 20 superseded the board of DHFL and appointed Subramaniakumar as its administrator. Of the total, secured debt stands at ₹74,054 crore and unsecured ₹9,818 crore.

Source: Mint December 29, 2019 07:30 UTC