India: Lenders of DHFL may square off loans against deposits

Photo: Pradeep Gaur/Mint

Creditors to Dewan Housing Finance Corp. Ltd (DHFL) are examining the possibility of adjusting the fixed deposits of its customers against loans outstanding after certain depositors approached the administrator of the bankrupt mortgage lender, said a person aware of the development.

R. Subramaniakumar, DHFL’s administrator, has sought an opinion from the administrator’s legal adviser AZB and Partners, said the person, requesting anonymity. The loans were extended by DHFL against fixed deposits and are not very large, added the person.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter