DHFL Crisis: RBI Appoints Three-Member Advisory Panel of Rajiv Lall, NS Kannan and NS Venkatesh
Moneylife Digital Team 22 November 2019
The Reserve Bank of India (RBI) on Friday constituted a three-member advisory committee to assist the administrator of Dewan Housing Finance Corporation Ltd (DHFL). The members on the advisory panel are Dr Rajiv Lall, non-executive chairman of IDFC First Bank Ltd, NS Kannan, managing director and chief executive (CEO) of ICICI Prudential Life Insurance Co Ltd and NS Venkatesh, CEO of Association of Mutual Funds in India (AMFI).
On Wednesday, RBI superseded the board of directors of DHFL and had appointed R Subramaniakumar as administrator of the crisis-hit non-banking finance company (NBFC).
DHFL has been tottering and has faced allegations of large-scale loot for over 10 months now. In December 2018, Moneylife wrote about how loans to promoters and poor disclosure were used to boost net worth and valuation. 
Last month, the Registrar of Companies' (RoC) regional office in Mumbai had recommended action by the Serious Fraud Investigation Office (SFIO) against DHFL in its report to the ministry of corporate affairs (MCA).
DHFL, a non-banking finance company (NBFC), had earlier said it was working on a debt resolution plan with lenders to protect the interests of its stakeholders.
As of 6 July 2019, DHFL had a total debt of about Rs1 lakh crore, in which banks have an exposure of Rs38,342 crore.
5 years ago
Chaukidar sleeping ,touring and using fraud money for Election campaign Horse trading & paying Godi gobar media . Feku have instuionalised the fraud in system to dupe depositor money. Such a magnitude of fraud is being committed under it nose & media are busy showing Pakistan News, Hindu Muslim all nonsense.
R Balakrishnan
5 years ago
None of them have run or managed a company like DHFL. Wonder if they will even understand what is where
Hudaf Shaikh
5 years ago
Very commendable to see RBI move quickly to address the wilful defaults by DHFL.

This high power team will help in speedy recovery of of DHFL assets illegally securitized in grosss violation of NHB rules which require that it needs to maintain at least 51% of its Total Tangible assets less cash & bank balance are in form of individual housing loans.
Nakul Kumar Reddy
5 years ago
Iam a victim of them,I work soo hard for their civil works.
At finally he passed a dialogue,what u done to me?
At that time my eyes getting wet ,ok sure it's my fault sorry.
I still remember that situation.
Just file a suit ,they wandering to court.
File non bailable sections.
Free Helpline
Legal Credit