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DHFL proposes to convert debt into equity in draft resolution plan

30 Sep 2019 Evaluate

Dewan Housing Finance Corporation (DHFL) has floated a draft resolution plan under which it proposes to convert debt into equity, subject to the approval of investors and bankers.

The company held a meeting on September 27 to present the Draft Resolution Plan to all its institutional creditors including banks, financial institutions, mutual funds, insurance companies, and other institutional bondholders, and to apprise them of the various steps required to be undertaken to implement the Resolution Plan.

DHFL is one of India’s premier housing finance companies and is among the oldest private sector Housing Finance Companies (HFC) in India. The company was established to enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India.

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