DHFL management meets MCA top brass over repayment, liquidity

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New Delhi: Top NBFC DHFL management met Ministry Of Corporate Affairs (MCA) officials to brief them on the current situation of the firm where the NBFC is learnt to have informed them of the liquidity and payment schedules.

Official sources said the MCA officials on Wednesday were informed of the initiatives being taken by DHFL on this and that it was working with lenders to tide over liquidity crunch and repayment of dues.

DHFL had defaulted for a second time this month on payment of dues. It repaid Rs 150 crore of the outstanding Rs 375 crore earlier. It told the offucuaks that the NBFC would clear the remaining CP Maturity Payment in a week.

The State Bank of India is the largest lender to DHFL at Rs 10,000 crore and the NBFC has also repaid about Rs 40,000 crore of its obligations since September 2018. The NBFC is also understood to have informed the MCA that induction of a strategic partner would take time.

On Wednesday, DHFL got the Sebi’s nod for exiting MF arm and sell its stake to JV partner. The NBFC will now facilitate a load-free exit window to investors in-line with the Sebi requirement for change in control and other fundamental attribute changes.

Sebi norms require a fund house to give exit option to unit holders without any exit load if there is any ch ange in fundamental attributes of a scheme or trust or any other change affecting interests of the unit holders.