Dewan Housing lenders get temporary relief on $5.6 bn loans

VCCircle | Nov 14, 2019 at 9:45 AM
  • An Indian court on Wednesday allowed banks to recover some dues from shadow lender Dewan Housing Finance Corporation Ltd, granting relief to banks that had earlier been staring at a $5.6 billion hit to their books.
  • An earlier court ruling had barred debt-laden DHFL from making any payments on dues, including those on securitized loans that it had sold off to banks.
  • Over the years lenders had bought loans worth nearly 400 billion rupees ($5.61 billion) from DHFL.