Dewan Housing Finance
Dewan Housing Finance News
ED arrests Iqbal Mirchi aide Humayun Merchant as part of probe into controversial properties; to be produced in court at 1 pm today
The Enforcement Directorate on Tuesday arrested Humayun Merchant, a close aide of D-Company don gangster Iqbal Mirchi, in its ongoing investigation into properties owned by the latter. Mirchi, Dawood Ibrahim's right-hand man, had given Merchant the "power of attorney to fix deals on his behalf".
Bankers worry DSP Mutual Funds' legal action will delay rescue of DHFL; other creditors may be pushed to take legal action
In July, DHFL said it was "undergoing substantial financial stress" and may not survive as a going concern
Shares of DHFL bounced back and zoomed over 14 percent on Tuesday after the company said it expects in-principle approval from lenders for its resolution plan by month-end
DHFL is in an advanced stage of submitting its resolution process under the inter-creditor agreement as entered into by banks.
Crisis-ridden DHFL said Tuesday it has paid Rs 962 crore towards interest payment on debt instruments which fell due on 4 June, and met the seven-day "cure period" to pay off its obligation
ICRA downgraded its rating on Dewan Housing’s 80 billion rupees ($1.12 billion) worth commercial papers to “A2 plus” from “A1 plus”
Dewan’s promoters are reportedly looking to sell a 10 percent stake through various ways, including an open offer
RBI MPC meet today: Central bank may change stance, inch towards rate cut in April as inflation eases
A softer stance would bode well for Prime Minister Narendra Modi’s government, which wants to boost lending and lift growth as it faces elections by May
The clarification follows Sebi seeking details from mutual funds about their exposure to all NBFCs and housing finance companies, amid concerns over liquidity in the system, according to sources.
Shares of housing finance firms crash sharply; DHFL tumbles 42% on massive selling over fears of a liquidity crisis
shares of Indiabulls Housing Finance plunged 8.18 percent, Can Fin Homes dived 5.70 percent, LIC Housing Finance 5.05 percent and PNB Housing Finance 4.92 percent.
DHFL plans to raise Rs 50,000 crore in FY19 through debt market and bank borrowings to support business growth
DHFL is planning to raise Rs 50,000 crore through the debt market and bank borrowings in the current financial year to support business growth
Once micro-finance institutions become banks, they can tap public savings and lower their dependence on bank finance
The JV was announced in 2007 and started operation in September 2008.<br /><br />