There is big news for the FD holders of Dewan Housing Finance Corporation Limited (DHFL). If you have also made a fixed deposit in DHFL, then now you can get some relief.
New Delhi: There is big news for the FD holders of Dewan Housing Finance Corporation Limited (DHFL). If you have also made a fixed deposit in DHFL, then now you can get some relief. Investors are very worried after the company’s bankruptcy and delisting from the stock market. The investors whose money was invested in the market have lost all their money, so there was a matter of concern for the investors who got FD, but now you do not need to worry.
According to the news of Live Mint, the Committee of Creditors (CoC) of DHFL may approve Rs 966 crore for FD holders of DHFL. Votes will be taken for this proposal this week, only after that some decision will be taken in this regard.
May get approval for additional payment
Let us tell you that as of now, FD holders have claims of 5,299 crores, but it is likely that they will recover less than half of it. If the additional payment is approved, the FD holders would collectively receive Rs 2,189 crore, increasing the recovery for FD holders from 23.08 per cent at present to 41.31 per cent.
Struggling for my savings since December 2019
Since December 2019, FD holders are constantly struggling to recover their savings. Let us tell you that he has 6.18% voting share in CoC and he is currently opposing the resolution plan of DHFL, calling it discriminatory.
The latest development follows the suggestion of the Mumbai Bench of the National Company Law Tribunal (NCLT) that the refund of creditors’ money is being considered. On June 7, the Insolvency Tribunal approved the bid of Piramal Capital and Housing Finance Ltd to take over DHFL for Rs 37,250 crore. The tribunal, in its June 7 order, said lakhs of small investors and senior citizens who have deposited their savings should get a “fair” share of the settlement amount.
Who will get how much money?
Lenders have proposed an additional ₹540 crore for unsecured non-convertible debenture (NCD) holders, ₹263.6 for small secured NCD holders. Apart from this, Navy Children School, which will get ₹ 1.95 crore and Air Force Group Insurance Society, will get ₹ 56.09 crore.
