Cash-strapped DHFL gets 7 days to finalise and present a resolution plan

The resolution plan will also entail additional lines of credit from the consortium

In a meeting on Thursday, lenders to the troubled housing finance company (HFC) Dewan Housing Finance Corporation (DHFL) agreed to allow the firm to finalise and present a resolution plan to the consortium within seven working days, said people in the know. 

After the signing of the inter-credit agreement during the second round of meeting —involving banks and holders of non-convertible debentures (NCDs) — it was proposed that the HFC and banks be given more time to draw up a comprehensive plan agreeable to all lenders, including NCD holders. “Additional time is being granted, as banks are in the process of