DHFL defaults on NCD repayments of Rs 50 cr over moratorium restrictions

The payments to the lenders or NCD holders remain in abeyance and will be subject to the outcome of the CIRP process, the company said.

DHFL has defaulted on payment of Rs 50 crore on bonds, saying the company is not in a position to make payments to the lenders as it is under moratorium since last November.

The payment has not been made by the company to the respective investors of the secured NCDs (non-convertible debentures) for a principal amount of Rs 50 crore due on July 3, 2020, DHFL said in a regulatory filing.

The company is currently under moratorium under the Code (IBC) since November 29, 2019 and hence, it is not in a position to make payment of interest or principal