The Reserve Bank of India (RBI) has sent Dewan Housing Finance Corporation (DHFL) to the bankruptcy tribunal, making it the first NBFC/HFC to be resolved under the insolvency and bankruptcy code. As per the central bank, there will an interim moratorium on the lender between the date of filing of the bankruptcy application and its admission or rejection.
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.
