Reserve Bank of India (RBI) has issued the order with regard to the Supersession of the Board of Directors of Dewan Housing Finance Corporation (DHFL) and appointed an administrator. The company has defaulted in its payment obligations in respect of bank borrowings and market borrowings, which reveals serious concerns about the conduct of the affairs of the company.
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.
