Business Standard

HC relief for SBI, other lenders in debt recovery from crisis-hit DHFL

The lenders, led by State Bank of India, Bank of Baroda and IDFC had moved the high court seeking a relief from an earlier order that restrained DHFL from making any payments to creditors

DHFL
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Dev Chatterjee Mumbai
Even as an insurance society owned by Indian Air Force employees moved the Bombay High Court seeking the clearance of its dues by Dewan Housing Finance Limited (DHFL), the court on Wednesday allowed Indian lenders to also receive payments from the troubled housing finance firm against securitised assets.  

The banks, led by State Bank of India, Bank of Baroda and IDFC had moved the high court after an October order restrained DHFL from making payments to any creditors.

During the hearing, the banks argued they did not fall in the category of creditors as they were the owner of assets

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