DHFL FD Investors and NCD-holders Start Getting Their Repayment Proceeds as per Their Claims

Moneylife Digital Team 30 September 2021

In a huge relief for fixed deposit (FD) investors and non-convertible debenture (NCD)-holders of Dewan Housing Finance Corporation Ltd (DHFL), the repayment process has already started.

While many people have expressed their satisfaction at having received almost their full principal amount (those with invested amounts less than Rs2 lakh for NCDs) back, some were extremely disappointed and angry at having received only 23% to 46% of their principal amount back. Moneylife has been closely covering the insolvency proceedings of DHFL since 2019 and it can be read here.

Catalyst Trusteeship Ltd, the debenture trustee for the DHFL bonds, which has been severely criticised for its total lack of interest and communication during the entire resolution process, has finally uploaded the latest status report in the smartroom portal.

The report says that the process of implementation of the resolution plan approved by the National Company Law Tribunal (NCLT) as per its order on 7th June, has started. Catalyst Trusteeship has been appointed as the Global Escrow Trustee to hold on trust, the settlement amount in the form of cash and debentures issued by Piramal Capital Housing Finance Company Ltd (PCHFL) and to arrange for payments to claimants. The payments are being made as per the said resolution plan to the debenture-holders as on 13 August 2021 (record date) and the FD holders.

DHFL NCD-holders:

The settlement consideration payable to debenture-holders are aggregated permanent account number (PAN)-wise under each series. The amount payable by cash is being credited to the bank account (linked to the demat account) of the first-holder and those payable by way of debentures issued by PCHFL is being credited to the demat accounts of the first-holder, as appearing in the list of debenture-holders as on 13th August.

DHFL FD investors:

The amount payable to FD-holders is being credited to their bank accounts as per details made available by DHFL. However, in respect to those FD-holders, whose bank account details are not available with DHFL, are being paid by way of demand draft drawn on HDFC Bank Ltd and being sent to their registered address by speed post.

Meanwhile, the National Company Law Appellate Tribunal (NCLAT) has fixed the next date for the hearing of pending appeals, including those filed separately by FD-holders and Kapil Wadhawan (the erstwhile promoter of DHFL), on the resolution of DHFL to 17th November.

The appellate tribunal said all legal filing of documents should be completed by then. FD-holders have also filed an interim application with the Supreme Court.

Fresh cases of Uttar Pradesh State Power Sector Employees Trust and Uttar Pradesh Power Corporation Contributory Provident Fund Trust against DHFL were also taken up for admission by the appellate tribunal.

Comments

User

tattvadua

2 months ago

We have invested 10 lakh and no reply will will come from dhfl and no amount received they get orignal document in Hyderabad office in 2021 till date no reply no payment. Even my grandfather expired and now what to do please contact me [email protected]

sonykurien

3 months ago

Long Time no updates regarding pending FD repayment Any Whatsapp group formed. Pls inform

sanjay10bhargava

4 months ago

I received only 67000/- against the Fd of Rs 250000/- until now is this justice to investors Marran brothers have been deprived of their full belongings then where the money goes who has been benefitted by such deals our motto is to get full money back not mere putting the culprits to jail who will ensure in this country as the time passes such matters are buried down.

narayanan231165

6 months ago

My claim payment due of Rs. 58,500/- against my FD was admitted but till date I have NOT received any payment. I am a poor class family. Kindly help me to get payment of my admitted claim

r_ashok41

1 year ago

coc and lawyers are having a party with piramal group since they have succeeded in duping retail investors.See how nclt and Ibc is being used.Present govt can claim having introduced it but see how under this name aam aadmi is being looted.

krrish.gupta40

1 year ago

Prime minister Narendra Modi sabse bada chor hai ishi ne toh Dhfl se 25 core rupey fund liya aur hum garib fd holder ka paise apne maa ke bhosra dal diya hai

dash.drbiswanath

1 year ago

Received only 23% of my DHFL FDs.

dash.drbiswanath

1 year ago

I have received 23% of my FDs.

r_ashok41

1 year ago

Is there any possibiity of getting the interest and what is the status.

vermakuldipsingh

1 year ago

Though my claim of Rs ,,41188/- against my FD was admitted but till date I have not received any payment. I am a sr citizen. 79 yrs kindly help me to get payment of my admitted claim

mlarya555

2 years ago

I got only 6.44 lacs against my principal investment of Rs 25 lacs in FD.
Will I get rest of my money in future ??

mlarya555

2 years ago

I had investors Rs 25 laga as FD but received only Rs 6.44 las. Will I get rest of my Principal investment

siddhi.shah1218

2 years ago

How much more time is required to pass the DHFL fd to the customer.

kaushik.n.pateliya

2 years ago

I had bought NCD worth Rs 50K, I recived 49992 back to my acc on 29/09/21

p9deepika

Replied to kaushik.n.pateliya comment 2 years ago

is NCD different from FD ?

drsaini25aug

2 years ago

Nobody can pridicit about the facts behind. Why the ranking agencies give them high ratings. Was the government sleeping at that time.Even NCLT team declared and assured 100% sum returning for those whose sum is below 2 Lacs but only 23% has been released means NCLT was with promotors and was not worried about small investors.