Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18
DHLF lenders are all set to meet next month to come up with a rescue package, reported Business Standard, adding that the plan could range from reworking of the loan payments to organising a new management team.
Recommended ArticlesView All
This Microsoft project is enabling the digital presence of low-resource languages
Jan 30, 2023 IST7 Min(s) Read
CEOs, CXOs may see 9.1% salary hike, focus on performance-linked pay: Survey
Jan 30, 2023 IST4 Min(s) Read
Wizards of the Street | Cash is a depreciating asset and an opportunity, says Vijay Kedia
Jan 30, 2023 IST2 Min(s) Read
Prakash Javadekar — Challenging task in hand as Kerala in-charge of BJP
Jan 30, 2023 IST8 Min(s) Read
“We will take a comprehensive look at the repayments done to date, the steps are taken to sell assets, discuss the broad contours of the rescue package, and preparations for repayments over the next few months,” a senior banker involved with the development was quoted as saying in the report.
The development comes weeks after rating agencies Crisil and Icra downgraded the rating of the non-banking financial company's commercial paper (CP) to “D” from "A4+" and "A4", respectively. While DHLF stated that the move was unwarranted and questioned the rationale behind such a step, the prospects do not seem to be that good for it.
The firm is staring at a Rs 750 crore CP liability and many rating agencies have even questioned its ability to meet its obligations. This, the report said, has raised concerns among the lenders that include State Bank of India, Axis Bank, HDFC Bank, ICICI Bank, and Union Bank.