💠💠Dewan Housing Finance Corp. Ltd (DHFL) said a panel set up by the stressed mortgage lender’s board has approved a debt resolution plan that seeks a moratorium on repayments but spares creditors from having to take haircuts on principal payments, sending its shares surging 32%.
As part of the resolution proposal, which has to be now approved by its lenders, DHFL will seek funds from the National Housing Bank and other lenders to restart retail lending and take steps to address its asset-liability mismatch, the home financier said on Tuesday after the special panel reviewed the draft resolution plan formulated by the company in consultation with adviser EY.
News credit LiveMint
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