DHFL crisis: Bankers to enter into inter-creditor agreement by July 5

The consortium of 30 lenders led by the state-run Union Bank of India Monday decided to enter into an inter-creditor agreement before July 5 to thrash out a resolution plan for the cash-strapped Dewan Housing Finance (DHFL) that has been defaulting on a number of debt repayments, sources said.

The lenders also took stock of the month-end and quarter-end cash flow situation of the company whose promoters are talking to investors to pare stake to generate cash, and have set June 29 as the record date for the resolution, three bankers who attended the meeting told PTI.

"The meeting decided to sign