DHFL administrators get Rs 1.2 crore claims

The administrator overseeing the affairs of Dewan Housing Finance Corporation (DHFL) is said to have received total claims of about Rs 1.2 lakh crore from creditors after the Reserve Bank of India (RBI) referred the indebted nonbanking finance company (NBFC) for debt resolution. “Lenders including debenture holders, secured lenders and depositors have submitted their claims and the figure is so far about Rs 1.2 lakh crore,” said a person privy to the matter. “The administrator will soon start the process of accepting and rejecting claims.” The National Company Law Tribunal’s (NCLT) Mumbai chapter admitted DHFL for insolvency resolution on December 2 and appointed R Subramaniakumar as the company’s administrator. DHFL did not reply to ET’s email seeking comments on the matter. Munaf Virjee, managing partner of ABH Law, who represents the former management of DHFL, declined to comment. The troubled home financier has been in a liquidity crisis for over a year. The RBI superseded its board on November 20 and placed it under an administrator. Subsequently, the central bank appointed a three-member advisory committee comprising Rajiv Lall, executive chairman of IDFC First Bank; NS Kannan, MD of ICICI Prudential Life, and NS Venkatesh, CEO of Association of Mutual Funds in India.