For Confused and Angry NCD/ FD Investors of DHFL, Catalyst Trusteeship Finally Explains the Resolution Plan Math
Maya M 02 October 2021
Over the past two days, confused and angry DHFL investors were flooding social media with complaints of not receiving payments as per their claims. Many complained of having received a raw deal by receiving a far lower amount (compared to what they were anticipating).
 
Catalyst Trusteeship, the debenture trustee for Dewan Housing Finance Ltd (DHFL)’s non-convertible debentures (NCDs), has finally shared the reasoning for the basis of repayment of DHFL retail investors which includes NCDs (secured and non-secured) and fixed deposits (FDs).
 
Catalyst has claimed that the settlement of claims of NCD- and FD-holders of DHFL, as per NCLT order dated 7th June, has been calculated by advisors of committee of creditors (CoC). The broad principle of settlement of claims as per the order of NCLT, as calculated by advisors of CoC is given below.
 
However, investors are requested to refer to the information provided through the virtual data room (VDR) - smartroom portal from time to time. Secured NCD categorisation is done on the basis of the total investment of the first NCD-holder's (PAN) in a particular series.
 
Based on the total investment of the NCD-holder, across different series, the following treatment is accorded as per the approved distribution mechanism:
 
 
The payments have been made by credit to bank accounts and demat accounts, as case may be. In case bank account details are not available or incorrect, they are being paid by way of demand draft and being sent to their registered address, by speed post.
 
A special facility has been made available on website, from where NCD / FD-holders can get their settlement details. Investors can mention permanent account number (PAN) (for NCDs)  and the customer ID (for FDs) and a one time password (OTP) will be generated and sent to the registered mobile number / email ID. Investors can check on link below: https://www.catalysttrustee.com/dhfl-ncd-recovery-details/
 
Catalyst Trusteeship has shown very little interest and a total lack of communication throughout the IBC proceedings of DHFL, irate investors said. The same thing is also happening with respect to the DS Kulkarni Developers (DSK) case. This makes Catalyst’s claims of “enhanced speed of ease of communication in default cases of debentures” appear laughable. 
Comments
vinoddaswani62
1 week ago
As 70000 FD holder and creditor can directly put PIL in honourable supreme court for justice and review DHFL case then only we will get the atleast our principal amount
vinoddaswani62
1 week ago
As 70000 FD holder and creditor can directly put PIL in honourable supreme court for justice and review DHFL case then only we will get the atleast our principal amount
krishan2k5
2 weeks ago
Will approaching PM through PM Portal have desired results?
vinoddaswani62
2 weeks ago
I have seen a movie police public in that actor A.k Hangal sent request to supreme court for his case and supreme court take that case as public interest litigation (PIL)as he isn't getting justice he approach Honourblesupreme court for justice as all FD holder are are scattered in country they can not come together again st DHFL case I hereby request all the DHFL (FD) and creditor , take suggestion from lawyer's and a s per law all the FD holder and creditor can twit the honorable supreme court to review the DHFL case so that all the FD holder at least get back principal amount.
krishan2k5
2 weeks ago
Is there a system or mechanism through which we can approach the Courts to review the case?
sujann68
3 weeks ago
Piramal acquired DHFL for much lower price, Muck started there,all players including Catalyst kept their full payments, retail crowd lost their capital as always, this is how our"democracy" works ????
Kamal Garg
Replied to sujann68 comment 3 weeks ago
Correct.
vishalshah_9999
4 weeks ago
ILFS on track for 62% recovery, says Uday Kotak

Can we expect same recovery at DHFL

https://www.google.com/amp/s/m.economictimes.com/industry/banking/finance/ilfs-on-track-for-62-recovery-says-uday-kotak/amp_articleshow/87492347.cms
anantaprasad.1728
4 weeks ago
DHFL settlement for parent to FD holders who are mostly individuals has not been properly dealt with.The individuals who are mostly retired should not be treated at par with companies.NCLT and CoC should give a fresh look and impart justice.
garani.vittal
1 month ago
In Short Equity Holders have lowest rights they are the last in the IBC process. Hence they lose whole money DHFL depositors only got 23% and NCD holders who are secured and less than 2lakhs got principal the rest you can see in the above table 43.82% between 2-10lakhs. Everybody lost faith in the NBC companies and now the latest which is going for insolvency is SREI luckily there are no depositors and only NCD retail holders are there in SREI
bmitra51
1 month ago
Requesting Central Government to look in to the DHFL settlement with the Investor,so that they can get relief.
kanakdas32
1 month ago
There is no doubt that the claim settlement against whatever mechanism applied by NCLT, has been against the interest of the investors and may inspire other corrupt companies to put their hands off and force the investors to a raw deal. How long should the law enforcing agencies in the country and the economic watchdogs let the miscreants scot-free at the cost of the investors money? In my case, my NCDs contained cumulative interest as well, and figured in the claims liability displayed in the official site of Catalyst Trustee. The cumulative interest was duly certified by DHFL with TDS remittance to CBDT as per Form 16 issued to me. I confirmed it from 26 AS of Income Tax, and declared the same in my ITR for 2019-20 FY. I had also paid additional tax as per my slab. But I have received only a truncated Principal Amount. When both the Principal and Interest amount were part of the resolution process due from the debtor, why was there only part performance? Should we not be angry and confused for this raw deal involving a shrewd, tactical way to deceive innocent and gullible investors?
tapankumarsanyal
1 month ago
From the DHFL experience I would suggest all the Sr. Citizens, please please don't invest your hard earned fund in PRIVATE organization for better interest and you will certainly loose your money and no one inclusive of Hon'ble courts would save you to recover the money.
lsundar61
Replied to tapankumarsanyal comment 4 weeks ago
Absolutely. To top it DHFL ,at the time of investment carried an AAA+ rating. All are bogus. No more investment into any private companies. Because of these frauds like DHFL, other companies will suffer. But we must know that public is greedy.
Thank god ,I got back my money from India bulls. The other black sheep is the Anil Ambani's Reliance.
rajendrakakhandki
1 month ago
From silence& no response for public reaction connivance & active involvement of all agencies in disastrous decision for denying rightful claims of retail investors is clear. Now it is for the so called welfare Govt/MOF to prove their claim of safeguarding common man interest& welfare.
mdn.institute
1 month ago
DHFL is a number one cheater company of India, they are charging high rate of interest from borrower and not refund amount of investors
rupad111
2 months ago
What about the remaining amount????
narindergogna4
2 months ago
In this deal why fd holders were suppressed by giving only 23% of pur principal amount whereas ncd, corporate & other investors got 44% .we have invested our whole life earning in this co not just to make owners rich & we should be on road.
Nclt decision is buly decision because our money is in others hand. This is not justice to senior people . This pure understanding between new owners & coc members. We need our full money with interest. Govt should intervene & find way to give us money back.
solanki13hemant
2 months ago
Fixed deposite remaining amount wgen we will receive?
solanki13hemant
2 months ago
When we will receive our remaining amount?
solanki13hemant
Replied to solanki13hemant comment 2 months ago
Fixed deposite
manish.talreja23
2 months ago
Where we should appeal
redblueenterprises
2 months ago
Why such a raw deal to equity holders of DHFL, are they 2 nd grade citizens, why their value has been made zero. If government can intervene in ilfs & yes bank fraud, why not here
cbk1097
Replied to redblueenterprises comment 2 months ago
Equity share holders are called as residual claimants, hence they received nothing
Kamal Garg
Replied to cbk1097 comment 1 month ago
Not only that, equity capital is basically , financially and legally is a "risk capital" - it's "owner's" money and therefore it is liable for written off. We must be thank full to the legal structure created under the Indian Companies Act whereby the liability of equity holders is "limited" and that's why the word "limited" is written/inserted after the name of every company. Had this not been the case, we, the equity share holders would have had "unlimited" liability and may have been called upon to "compensate/fulfill" the losses incurred by the company and to meet the company's liability towards its lenders, suppliers, etc.
tapankumarsanyal
2 months ago
The AR of FD holders time to time in virtual conferences with the Depositors assured 100% refund of the FD amount but under who
tapankumarsanyal
Replied to tapankumarsanyal comment 2 months ago
The above text was incomplete due to mistake. Actually the COC of FD holders intentionally suppressed the fact and agreed the resolution process under certain pressure.The AR of COC may appear the NC ALT and pleads for the SR citizens so as to get the principal amt with accrued interest.
rajeshcst
2 months ago
We don't know the rule of NCLT,but thiss is pure cheating and injustice to small FD holders. All FD holders must unite to search out the any way to compensate this loss
cbsuvarna
2 months ago
Catalyst trusteeship has acted as a commission agent hand in hand with all the agencies & cheated the poor FD/NCD holders.
fernandezida
2 months ago
I had 2 FDs. One of 2 lac and and one of 4 lacs. But in all I received was 1.40 lacs.
suraj.panda5156
2 months ago
According to the resolution plan the fd holders will get 100% amount for upto 2lakh but I got only 23%. That's really unfair.
rgsayani
2 months ago
While processing with Pan no through link received msg Mobile no email id not registered .... But claimed received msg got & even email intimations also ....
Explian
rgsayani
Replied to rgsayani comment 2 months ago
What is the true cost of acquisition to the Piramal group? Press reports suggest that they have hardly put any cash on the table. They have raised Rs19,550 crore through new financial paper. About Rs3,500 crore is out of the cash available in DHFL. Loans from Barclays Bank and Standard Chartered appear to have supplied funds for the cash payment. In effect, one bank substitutes the loans extended by another, and that too after a huge haircut.
joseph.nbad
2 months ago
I empathise with all those who lost their hard earned money. In my humble view, senior citizens are the worst affected. Inflation and this constant bombarbardment of advertisement of NCD with high interest will force these Senior Citizen to subscribe to these bonds for the incremental interest rate and in the bargain might lose their capital. I was watching adv with another company offering 9.5% for NCDs. I truly wish retail investors will shun these NCD and instead invest in Debt Mutual fund from SBI or other Government owned AMC. At least in these cases, the losses would be kind of diversified in case one company goes bust. All it takes is investors education. Anandh Rathi chief Mr.Feroz Aziz in one of his interview used to say, when it comes to debt fund, you should be as diversified as ever instead of focussing only one or two debt fund. This eventually will diversify the risk he used to say.
manish.talreja23
2 months ago
Yes atleast we should get FD principal amount, it is our hard money. Request to RBI, NCLAT to please look it.
Ramesh Popat
2 months ago
got full refund of DHFL ncds. but i had a risky plan to gain from that.
925callamit
2 months ago
I am at a loss to understand how RBI, SEBI and also Government of India- all are silent as to the fate of Individual Depositors, particularly the senior citizens. It has been a collective failure, to put it mildly, of the banks, auditors and all of the regulatory authorities. Banks will get opportunities to make up their loss, after all the very business will continue but the individuals will never get any such opportunity. Finally, I must add that Income tax had been paid for the interest accrued, particularly by those who had taken FD on cumulative basis. Shall I be wrong if I conclude that even Government made some small little money from this cumulative failure.
vinoddaswani62
2 months ago
It is sad that FD holder is shown gloomy picture by DHFL is told the FD holder in January 2020 that fill a form and send back to the company.In that it is clearly , mentioned that on 3rd December 2019. DHFL pay interest and return the money along with interest,and intrest is paid till 3rd December 2019. After deciding by court of law and as per permission from RBI company will return the money principal amount and intrest as mentioned above to the FD holder sir, my 2 FD with DHFL i.e.100000.& 136000. and up to the 3.Dec 2019 total amount accured 249000. On 29.sep2021 in my sb a/c credited 24680 & 33829. What happened my remaining balance amount? When I will get it back as I am senior citizens.i hereby request/concer authority not only myself but all FD return at least principal amount
rgsayani
Replied to vinoddaswani62 comment 2 months ago
Ye sab mili bhagat hai public ka saving kha gaya hai ... rateing agency ne rating kaise diya ?
vinoddaswani62
2 months ago
It is sad that small investors is shown gloomy picture and on January 2020 all investors is told to fill up a form in that mentioned that DHFL will pa
ashim2604
2 months ago
the same fate is waiting for us in SREI . see the swiftness and alacrity . banks will get money . if they dont , RBI will chip in . it is the NCD holders who will suffer thw most . we must not leave Piramal . we must go to court again in DHFL case and fight for justice against all agencies
pooja.sikcchi
Replied to ashim2604 comment 2 months ago
I totally agree..even I had around shares of DHFL which is debited from my motilal account without any information and not giving any money against it...it's a huge loss. This is a cheating done by both DHFL and Piramal group. We should approach the court collectively for justice.
ashim2604
2 months ago
catalyst trustisheep has systematically hand in glove with CoC and all other govt. agencies . cheated NCD holders . We must go back to court againt this cheating and misgovernance
tapankumarsanyal
2 months ago
Voting of COC was totally false and majority of depositors and debenture holders were denied and banks have been given preferences. Banks have got cash and SR out of settlement but the fate of SR is very much uncertain and the bank will make provision and ultimately write off of the SR amt. The bank will not loose any thing and now the Bad bank concept will bail out the banks!!!
What will be the fate of depository money why they will loose their hard earned money and law of the land will keep blind eye and deaf hearing! What a country we are leaving.
mmurthy56
2 months ago
On TV and in newspapers, many experts are praising resolution of DHFL as successful . While lakhs of individual investors have lost lakhs of rupees each . Probably these experts have not lost a single rupee. All the results of votings were pre determined because the individuals constitute minority . And banks will agree for any small amount of recovery because it will be a profit for them out of already written off losses. If majority of the individual voters voted for resolution, It would have been acceptable to all. But dont think even 1% of individual category would have accepted . Clubbing institutional lenders and individual lenders for voting was illogical .
Kamal Garg
2 months ago
It is all the fault of Debenture trustee, i.e. Catalyst Trusteeship which should have taken the side of the NCD holders and should have fought with the CoC for the rightful dues of the NCD / FD holders. It is absurd to note that somebody having 201 NCDs will be paid 43.82% i.e. Rs. 88078.20 whereas another one holding 200 NCDs will get full payment of Rs. 200,000. How can CoC decide on such glaring absurdities.
krishan2k5
2 months ago
Voting on various resolutions was taken on ISIN basis. How do we know what all NCDs have been issued in a series? When voting and agreement or non-agreement was based on ISIN, why combine the holding to a series for payment decision? Also the clause of Rs 200000 is being misinterpreted. It seems to illogical and to some extent illegal that a holder of 200 NCDs will get Rs 200000 and a holder of 201 NCDs will be paid Rs 88078.20 ( 43.82 % of the value). Whom should we approach to seek amendment to such anomalies?
mmurthy56
2 months ago
I have lost 78% of my deposit in DHFl FD . Atleast I should have got refund of my 1lakh in NCD . No communication so far and no refund. They could access my Demat account and do transactions but cant get my SB acct number linked to my Demat acct? They cant get my address from Demat acct? Looks strange.
mmurthy56
2 months ago
I have not received the refund for my 100 NCD valued 1 lakh . NCDs have been deducted and credited and again deducted on 24th 27th Sept from my demat acct in HDFC bank. I have not even got Demand draft. Can someone guide me what I shd do
rajanosn
2 months ago
We all need to get together and make an appeal against this one sided decision of the coc in the HC and iam sure there will be some relief. What more do you loose otherwise? Already lost 80%. We need to make forum for that purpose
rajanosn
2 months ago
This COC adjustment with NCLT is the biggest loot if this decade. The FD holder have given a meager 21% on the claim amount after five years. The promoter of the company himself volunteered to pay 10p% to all the creditors but this so called COC refused. The NCLT asked the coc to relook the settlement of FD holder as they found it was unfair but those group never hear those advise and went ahead and agreed for 21% and the reason is better know to all of us....

nikhil.girme
2 months ago
Great Indian Rope trick...To give confidence Govt bought in RBI to trick depositors..then slowly handed over to nclt who were fro.day one anti FD holders..cheating of highest order...govt turned a blind eye to everything..Under IBC act lot of misdeeds done..What happened to NHB protection to depositors..Finance Ministry could have stepped in but did not want to for obvious reasons..Mr Piramal also enjoying..Wadhawan biggest Chor

samirverma2011
2 months ago
where can i appeal for justice .
samirverma2011
2 months ago
it was totally Froud with FD Holders . Charu Desai betrayed FD holders. Not once she staged a walkout against what was happening in boardroom. She never tried to raise her voice against the misdeeds of COC. I have received only Rs. 71000/- against my Rs. 300000/- FD. kindly help us how to claim about my remaining amount .
manish.talreja23
2 months ago
can we appeal to nclat
tapankumarsanyal
2 months ago
Let us concentrate all our efforts to recover our hard earned money through legal efforts, constant publicity to prevent the public any investment in private sector organization s even after 10 star credit ratings and also backed by Modi Govt. Any time they may aquire the company in the name of insolvency/ fraudulent activities, ultimately sufferer are depositors who had kept money in good faith.
svenkat1957
2 months ago
CBDT has to issue specific instructions as to how such loss should be treated in the IT returns of the individuals to avoid confusion at the time of assessment as the current law permits only investments sold in the stock markets on which STT is paid to be treated as Long !short term Capital Loss or gain
Kamal Garg
2 months ago
In my opinion Government should allow two types of reliefs for tax payers:
1. In case interest bearing securities like, debentures/fixed deposits, etc. a loss on account of erosion in the face value and realisable/realised value should be allowed as LTC Loss and should be treated accordingly.
2. Even a bigger worry is what about value of equity shares becoming zero/near zero because of either delisting by the stock exchanges (e.g. Gitanjali Gems Ltd.) or some regulatory action (e.g. Laxmi Vilas Bank where entire share capital was extinguished by RBI order). How to give treatment to this loss. The current provision is if you have "sold" the shares, then, you can claim LTC Loss but when there is no sale possible (either because of delisting or some regulatory action), there is no provision for considering this LTC Loss in Income Tax.
vs.ravindra
2 months ago
dear sir

WE ARE FIXED DEPOSIT HOLDERS AND NOT FIXED INVESTORS NOR FIXED DEPOSIT INVESTORS......DEPOSIT AS A CONCEPT IS SO DIFFERENT FROM INVESTING......
I GET A FIXED COMMITED RETURN ......WHEN I MAKE A FIXED DEPOSIT.

I GET AN UNSPECIFIED NON COMMITTED AMOUNT UPON INVESTMENT...WHICH MAY BE HIGH OR LOW ...AS PER THE PERFORMANCE . ...
vs.ravindra
2 months ago
dear sir

WE ARE FIXED DEPOSIT HOLDERS AND NOT FIXED INVESTORS NOR FIXED DEPOSIT INVESTORS......DEPOSIT AS A CONCEPT IS SO DIFFERENT FROM INVESTING......
I GET A FIXED COMMITED RETURN ......WHEN I MAKE A FIXED DEPOSIT.

I GET AN UNSPECIFIED NON COMMITTED AMOUNT UPON INVESTMENT...WHICH MAY BE HIGH OR LOW ...AS PER THE PERFORMANCE . ...
svenkat1957
2 months ago
Govt should allow FD and NCD holders to take the loss as capital loss to be set off against long term or short term capital gains or under any other head of income . Such provisions exist in the US tax laws and IT act provide relief on similar basis . When banks can treat the sum not recovered as NPA in their books and set off against income why not assesses suffering such losses on Schemes approved by NCLT . This will be a big relief to senior citizens who have lost sizeable money in Dewan Housing
RJ9177
Replied to svenkat1957 comment 2 months ago
Interest is treated as a normal income
RJ9177
Replied to svenkat1957 comment 2 months ago
I thought you could always adjust this against capital loss. If you sell NCD through the market - the gains are treated as a capital gain. So will be the loss
suklapunit21
2 months ago
These are basically chors who looted our money on which we have paid tax to government and in resolution plan government given us nothing. Why we pay tax on our investment when we are getting no security of our investment.
sinha.rk2302
2 months ago
Charu Desai betrayed FD holders. Not once she staged a walkout against what was happening in boardroom. She never tried to raise her voice against the misdeeds of COC.
Kamal Garg
2 months ago
Debenture Trustees are shame and nothing more than that. Now RBI and SEBI should take strict action against these high and mighty debenture trustees who only work as a postman and actually work on behalf of the company/debtor and let the investors run high and dry, making the process even more complex and in turn losing every thing for the investors. And of course very prompt in collecting their fee from the pool which rightly and legitimately belong to the investors.
narindergogna4
2 months ago
It is shameful part of co owners for becoming rich & rich from poor / old helpless people. Old & new owners are looking of their way of doing fraud with poor people .
One day they will also have to face this type of situation. All yhe days are not same for any one.
We request the co to give us our principal amount in full who are retired & no income source .
Pl consider .
Govt should penalize thi.s type of cos
RJ9177
Replied to narindergogna4 comment 2 months ago
Don't trust government to do justice. Its each one for themselves in this battle. Government is in bed with Mr Ambani and his relative Mr Piramal. They helped him buy DHFL at a huge discount
harshit777
Replied to RJ9177 comment 2 months ago
Yes.... Its true.
vsri2102
2 months ago
This is just the trailer. Show is yet to begin. Next in queue in SREI. They will know loot the public
bgranganath
2 months ago
COC & other creditors played an intelligent game to trap the public. they know that public is not allowed for any discussions and has no voice they trapped public investors to say yes for whatever they want to say. No one was interested in the safety of the public invested money. They all wanted to settle the corporate accounts so that they get a share in their settlement. Public was fooled. The so called COC representative was clever enough to ensure that public believes in whatever she tells and was very much successful in it. The money public was supposed to get was not transparent and we all are seeing it for ourselves. I was always opposing this settlement and gave no to most of my responses. As majority got trapped and agreed, the decision went in favour of them.

They also played a tricky game by keeping the other bidders away. This Piramal guy came in the last minute in the guise of helping investors looted public money. They did not give any shares for the DHFL share holders. This is a complete disaster and unethical settlement. Many other companies are requesting RBI to follow this method of settlement as they are finding it profitable for them.

The public deposits accounted for 55% share and all of the are cheated by this so called brilliant understanding of the brankrupt company, buying company and the mediators involved in the settlement.

Justice delayed is justice denied, and this is very much true for all the public investors. They did not even think of how the small investors who have invested their retirement money, daughters marriage, children education will have their life. everything shattered.

These so called intelligent people participated in the settlement could have pulled in the audit firm who kept on giving AAA rating so that people can have confidence. Audit firm should have made accountable to pay for this huge mess they created. Now these firms are free to give any rating as they are aware that they cannot be penalized for their wrong doings.

This is the fate we as Indians created.
nit1989.01
Replied to bgranganath comment 2 months ago
They intentionally gave 100% to FD holders having upto 2 lac full principal. So collectively along with major lenders which are banks passed this resolution unanimously to get it cleared thru NCLAT and NCLT. Shame is that we as FD holders who are recieving 23% of principle amount have no hope of justice
manish garg
Replied to nit1989.01 comment 2 months ago
But they not given 100% for FD'S upto 2 lakh.
They give only 23%.
manish garg
Replied to nit1989.01 comment 2 months ago
This is a fraud with small investors who are waiting for at least their principal amount.
harshit777
2 months ago
I don't know wat type of Justice is this. 23°/° they returned & 77 % they looted. If Piramal can't return full amount to FD holders means they should not go for bid itself. And govt should not entertain Piramal b cos now itself they cheated like this,just think going forward how they ll cheat. In the name of resolution they looted FD investors money. They told some where that 90% of people voted for this plan, non of the investors voted for this resolution plan. They misguide the investors. The given judgment or resolution plan is puerly in favour of Piramal. The RBI should stand in favour of public investors but stands for Dhfl or Piramal. Can some one please help me how can we go legally to get my hard earned money.
ksmahalingam1956
2 months ago
77% haircut for the FD holders and other investors in DHFL .What a cruel joke?Are we a banana republic that the controlling powers can get away with anything? Laws are made for the masses by the asses.Murky behind the scenes deals and mutual accommodation rule the roost and hapless investors get the stick.Sense of fair play,integrity and anxiety to quickly ameliorate the sufferings of lacs of investors are all missing.A decadent system riddled in bureaucracy is designed to favour the well heeled,not you and me.Why is the credit rating agency not hanged in public?A cosy ' you scratch- my- back,I scratch- yours' is the quid pro quo.For the collective failure of their fiduciary responsibility,all the oversight watch dogs -RBI,ROC,SEBI,finance ministry need to get the boot.Successive scams have time and again shown there is no fear of violating the law ,no matter which Govt is in power.Hapless public is left holding the baby with the bath water.The rot in our legal system,in bureaucracy,in governance,in policy implementation,in policing ,in civil society run so deep that unless there is swift retribution and exemplary monetary punishment of twice the scam amount combined with long jail term,we as a society are destined to continue in the rut of the past by a system that keeps the people of this rich country poor.
manish garg
2 months ago
They don't even pay the interest amount to FD holders.
Even small FD holder's upto rs. 2 lakh FD Holder's don't get full claim amount as per govt. law.
All agencies are involved in this loot.
RJ9177
2 months ago
Can all of us take time to write to PM everyday so that maybe someday he pays heed to our woes? I don't mind copy pasting a note everyday until he or his staff gets annoyed of ignoring
suklapunit21
Replied to RJ9177 comment 2 months ago
I had already tweeter to PM and FM but no response.
manish garg
Replied to RJ9177 comment 2 months ago
Yes, you are right. Please tell where I send message to PM.
devgansam
Replied to manish garg comment 2 months ago
narindergogna4
2 months ago
It is a big acam / fraud with small investors . It is with mutual understand of coc & co. They can bribe committee members & give any decision. Who arr they to take decision for investors money . If get loss of their money like this will they tolerate.
I m retired & invested all my retirement fund to run my day to day expenses
Now i m on road with my money both the owners of co ( past & present) are enjoying their life . Coc got influenced & became rich . Poor & old people have to committ suicide.
to committ suicide. No option left
allmails2r
Replied to narindergogna4 comment 2 months ago
All the fd holders should go on strike or write pm to get justice
RJ9177
2 months ago
We are where we are for the lack of a proper law which puts individual investors ahead of the large banks. We need to consult a corporate lawyer and a business journalist who can really put our interests ahead of these large cunning corporations to tell our story. Can we form a social media group and discuss this there ?
tapankumarsanyal
2 months ago
DHFL episode is totally a got up game, depriving small depositors to loose their hard earned money and pushing the small depositors for committing suicidal attempt. The Govt is not interested to bail out the common people from their distress. Let us fight with tooth and nail in all the available forums!
ssmookherji1996
2 months ago
It appears that Government has no i
concern to look interest of common man who put their hard earned money to get little more interest on it.This has happened in the case of many fixed deposits floating companies. How a secured debenture gets default and holder gets back less than 50 percent of face value ? Govt failed to protect common man's interst as we voted ,with a hope to do the best for us. Hope Govt intervention in this case on priority.
nid.chandel
2 months ago
Big Fraud..Received not even half of invested amount. They have not given second thought for people who have invested all their savings after retirement. All have been kept under one umbrella.
Investors looted once again.
vsri2102
2 months ago
Where can one get the approved distribution plan? The image posted above is not visible.
pradeepbm
2 months ago
Can someone share their email id. I sent email to [email protected] but it bounded with this message : "Your message to [email protected] couldn't be delivered."
pradeepbm
Replied to pradeepbm comment 2 months ago
They have linked my PAN with some other mobile number. very shocking!
vsri2102
Replied to pradeepbm comment 2 months ago
Same here. Mail bounced back. No response as well to the phone number provided. Pathetic
vishalshah_9999
2 months ago
Alert RELIANCE HOKE FINANCE NCD HOLDER

??? ?? ???????? ????? ???? ???? ?????? ?? ????? ??? 18 ????????, 9647 ????? ????? ?? ????? ?? ??????

https://www.google.com/amp/s/zeenews.india.com/hindi/business/pandora-papers-leak-bankrupt-anil-ambani-has-18-offshore-companies-and-rs-9647-crore-investment/999803/amp
devarajan1952
2 months ago
I had invested in 2 Series 205 and 137debentures ..but I recd payment of 2lakh only..for 2nd Series no clue..same PAN but 2 different demat acs..the link given is giving error message when entered pan no.. again total mess up by all concerned be it catalyst,cos,NCLT,Ibc all have favored corporation Piramal and investors are left hayway..another corporate DSKL issue is still pending n God knows when n how much NCD holders will get back..
gototarun
2 months ago
BIG Fraud, small investors cheated. Had no say...Big Lenders make their way...Govt Sleeping....closed their EYES. Credit Rating Agencies, cheated everyone...they should be barred from INDIA. Where did the money go....
nit1989.01
2 months ago
Lot of messages i have seen and having lost considerable amount in FD ourselves, it feels disheartening to be a victims of such a daylight robbery. SEBI, RBI, CoC, DHFL, Piramal all have profiteed on our expense. I dont think there have been a hearing on individual filed cases against DHFL or CoC. Why not a collective petition be filed against this stupid resolution, anyone having a better approach pls share. I shared my email id yesterady and will purposely share today as well: [email protected]. It is our rightful money which is being lost, let us act
nit1989.01
Replied to nit1989.01 comment 2 months ago
Sir there are ways we can stage a peaceful protest at their Noida office. Consult lawyer in corporate frauds dealing with NCLT's. But first and foremost we must know how many of us can come collectively
manish.talreja23
Replied to nit1989.01 comment 2 months ago
We should appeal to supreme Court or nclat
manish garg
Replied to nit1989.01 comment 2 months ago
Please tell us, what can we do for our money back.
allmails2r
Replied to manish garg comment 2 months ago
Yes I'm ready to file pitition
fernandezida
2 months ago
Our hard earned money it is. For the he company very small but we saved every month to make 2 FDs 2 lacs and 4 lacs. And in return I receive only 1.4 lacs. This is really not fair
ravinder.kaur6003
2 months ago
Didn't receive even principle amount. Very unfair and injustice to FD holders. How the NCLT and RBI accept this plan. Our honorable finance minister requested to interfere in the matter.
sudhirbg
2 months ago
Confused investors? What a title!
The worst outcome for a common citizen, losing hard earned money to a scam. Govt not intervening is unpardonable. Retirees have lost their only savings and staring at a bleak old age.
Govt should, at least, allow recover of amount via non payment of tax. Finance minister should take cognizance of the wrong doings and deliver justice.
kratisaxena1997
2 months ago
I am really disappointed with the decision as user with low investment are bearing a huge loss. The government have lost the creditiblity. The finance minister should intervene in this matter
mbp_at
2 months ago
This is a systematic way of looting small investors.NCLT is another bullsheet agency,which will confirm systematic loot.people must stop investing in NCD.
Marketed as fully secured redeemable non convertable debentures.Hardly got 42% and says fully secured.safed zut.All scam stars are fully protected in the long run.This country will continue with such corrupt practices all the time.People must learn from this.
manojduttjoshi
2 months ago
We have social platforms to raise this issue # DHFL_SCAM
Most of the Indians are unaware of this scam where a common person is loosing his life long savings

There is no guarantee that this won't happen next time to a commoner.

So whoever is seeing these articles kindly get alerted.
And raise yr voices against this injustice.
Join twitter groups, instagram groups
To alert people about these corporate mafia
Which wiped off commoner 77% and 54% savings and named it a "haircut"
This seems like a joke to these corporate mafia
kanakdas32
2 months ago
More and more NBFCs are getting into the business of squeezing and usurping the trusted investment of the people's hard-earned savings. They are irresponsibly putting the investors money in risk-prone areas and then finds NCLT to bail them out in an unethical, disproportionate, illogical refund of their investment. Reliance Home Finance is another corrupt company that have gobbled up the investors wealth, without any information about the future of the money held by them. How long the investors should suffer at the mercy of these cheaters? How long should RBI and the market regulators allow such corrupt companies raise funds and dupe the investors? Else, none would venture to keep their money in private sectors .
rajendrakakhandki
Replied to kanakdas32 comment 2 months ago
With tactic connivance with Govt/regulating authorities NBFCs are postponing& ultimately denying rightful payments to retail investors in Fds/NCDs. DHFL ,Reliance home finance & Seri Equipment finance have resorted to this ignoble method.
kanakdas32
2 months ago
I had infora blatantmed in writing the details of my email address and mobile number to Kfintech but strangely when I tried to get the details of settlement against my NCD, I was denied access for non-updation of the above. This is a blatant prevarication of truth. The Registrar and Catalyst may check up at their end.
kanakdas32
2 months ago
Received the Principal amount but not the accumulated interest due on maturity though the same with TDS was referred in Form 16 by DHFL to the Income Tax Authority. Please inform me about its availability.
sachinasher2004
Replied to kanakdas32 comment 2 months ago
Balance it out with equal amount of capital loss. If X% of your principal is considered interest, you can claim the you have not received the same amount of capital back and hence it's a loss.
vsri2102
2 months ago
I feel we all should jointly post our views in social media and tag PMO, FMO, RBI etc. it will atleast reach them
gssvasan
2 months ago
Have checked the calculation but find money received is woefully short of the estimated amount as per table in our two distinct accounts.(14% & 9% respectively) Whom do we approach for redressal.
gustad.engineer48
2 months ago
No communication by Catalyst Trusteeship to NCD Holders of DHFL either by emails or other means whatsoever. Total lack of transparency on the entire issue. Abdication of fiduciary
responsibility on their part to NCD Holders
which is unpardonable.
rajeshcst
2 months ago
Very unfair and injustice to FD holders. How the NCLT and RBI accept this plan. Our honorable finance minister requested to interfere in the matter.
gslamba22
2 months ago
*Catalyst trustee role in this case has been suspicious ,doubtful and dishonest they were representing NCD holders but never Objected to such a wrongful NCLT judgement.... even I believe they were hand in glove with the other party and they' have got 100 cores as fee for their services but they never appealed in higher court for full amount for retail NCD holders Show's their intentions ..Always suspicious such trustee to be banned and case should be registered .... CBI enquiry should be Marked by govt as poor citizens have been badly effected whereas retail investors are treated as par with banks ......*
rajendrakakhandki
Replied to gslamba22 comment 2 months ago
I fully agree. All deciding institutions/persons appear to be hand in glow in the matter.
arvindkalem
2 months ago
We shud have a nation wide drive and request all other banks and nbfc Holder to withdraw there money across banks and nbfc ... This will ensure FD holders are not treated lite ly
cbk1097
Replied to arvindkalem comment 2 months ago
Corporate deposits are always unsecured hence risky. But all the best for your plan
vsri2102
Replied to cbk1097 comment 2 months ago
NCD’s are not unsecured. They are supposedly fully secured
sksdlf3
2 months ago
We, the senior citizens, have received a very unfair and unjust deal. I am 80+. I had undergone heart surgery. In order to pay back the incurred expenses, on 28 June 2019, I had requested premature en-cashment of my FD, which remained unacknowledged. NCLT should have treated senior citizens, who are small investors, differently and with compassion. As we study the NCLT, we find it is a great fraud on small investors. They are very very slow and heartless. They only support biggies. It is a shame.
vishalshah_9999
2 months ago
Why secured ncd holder get 46% when ncd is secured by 100% assets?
vishalshah_9999
2 months ago
Nclt told coc to put wadhwan 100% repayment to vote but coc and rbi administrator appealed against this to nclat.

Why rbi , finance minister ,piramal are not giving any statement for loss of public money to ncd holder upto 500000?

they have made appeal when everyone get 100% afterall banks money is also public fixed deposit money?

Why investigation is not done and everyone gets honest clean certificate after looting people ?

Even rbi also know small investors upto 10 lac lost money . Then why he gave permission to plan .

It is big question for investigation authority to check whether dhfl mortgaged 100% secured assets to secured ncd ?

Can anyone tell me secured ncd means backed by 100% or part assets?
rajendrakakhandki
Replied to vishalshah_9999 comment 2 months ago
Fit case for Public interest litigation .Govt.. itself may like to consider the same.
vishalshah_9999
Replied to rajendrakakhandki comment 2 months ago
I am small middle class working people.

How can I fight in court as legal expense is higher than money lost.

Please don't underestimate power of a common man .
namitamathur02
2 months ago
It really pinched when your hard earned money goes begging, only investors are suffering, kapil wadhawan and Piramal enjoying high class luxury on common man earnings,
namitamathur02
2 months ago
Sir, as per this article, in Type 3 category, more than 5 lakh is showing as final settlement, can I expect more refund, as I invested 3 lakh in secured NCD type III
RJ9177
2 months ago
We need a law that puts retailers above any other corporate. Modi government does not have such balls of steel
RJ9177
2 months ago
I wish the government had some balls to put a poor investors interests ahead of the creditors capitalist requirements. These are all written off assets on their books. Had they lost a few thousand crores more - there would have been minimum drop in their market capitalization. For a retail investor its their life savings. But does Modi government give a rats ass - no ? They have already earned their retirement will from the Owner of the Nation
nageshlotlikar
2 months ago
My mother a senior citizen DHFL FD (rs 20 lac) got back 5 lac. and also taken loan(rs 42 lac) from DHFL I have repayed the loan amount. DHFL is in profit so why not return FD holders hard earned full money. Please support us to get our full money with interest back from DHFL.
nit1989.01
Replied to nageshlotlikar comment 2 months ago
We are yet to receive any amount on our FD. I think a collective legal coirse of action by all FD holders (FD value > 10 lac) should be made
arorasid2711
2 months ago
Mockery of law... unsecured creditors getting money but secured one's not getting...
vsri2102
2 months ago
At the end it is the poor, small retail investors who have to take all the hit. Banks and other institutions are not bothered. They can take any haircut. Ultimately the cooking taxpayer has to suffer.
The word secured debenture has become a joke. Is this the security offered? There is nothing called secured any more
While my daughters NCD has been debited from her demat account, She has not received any credit in her bank account.
Whom to contact? Feeling totally helpless
shahbiren2374
2 months ago
Nclt committee hv to take care of shareholders.
sjaikrish
2 months ago
I also received 23% as settlement on my FD of 2 lacs, as a group let us see how to legally pursue this prior to the hearing in Nov 17th. Any thoughts from anyone ?
anantaprasad.1728
2 months ago
The fixed deposit holders have been looted.The fixed deposit has been reduced to reduced deposit.It is the earning of individual depositors. Some times the retirement benefit put in the FD.It vanished due to the decision of CoC.The CoC do not represent individuals. They are representative of business houses or banks.They can not feel the pangs of individual depositors when they loose their hard earned money. Due to the handling by
the designated institutonss of India if individuals suffer it is simply perisment Matter to be looked into and justice to be done for the FD holders .
gopalakrishnan.tv
2 months ago
The individual investors cannot be allowed to suffer at any cost. It is for the regulators and authorities to ensure that the company' s board of directors should be made individually and jointly responsible for the liabilities and losses caused because of wrong practices and lack of professionalism in running the businesses. They have to sell of all their personal assets and make good the losses .Individual investors need to be protected by all means.
bsd5760
2 months ago
There must be some dealing with Government officials, Trustee , DHFL and buyer so that buyer is benefited most from the loot of small investors' hard earned money.
mgc062
2 months ago
Bogus....hopefully the Dewan will become Dewana
nit1989.01
2 months ago
Its an eyewash in public eye and mockery on the name of resolution. The CoC and Banks got profited besides Piramal
There has not been a single query on SEBI which was giving it positive credit rating until it went under IBC. We like many others have lost huge money thru FD which was actually the hard earned money unlike the banks or CoC's. Surprisingly there is no support from Govt. On this rather a senseless resolution was passed in 2 years by lenders, 100% banks or maybe smaller FD/NCD holders who got their 100% principal amount. These are the things which makes us wonder the role of ministry of finance, RBI, SEBI. Anyone having a meaningful outlook or get in contact may reach on: [email protected]
dantussreddy
Replied to nit1989.01 comment 2 months ago
I feel Customers must join hands to deal suitably through legal procedure for review petitions.
nalinikanthcr
Replied to dantussreddy comment 2 months ago
Ideally we must. I am a retired person having no pension and lost ?5.5 laks which could have been help for survival at least for two years for two of us
nit1989.01
Replied to nalinikanthcr comment 2 months ago
A collective action by all FD holders could be one option. The money is rightfully ours and it is simply being looted on name of all legal compliances whereas this is a scam sponsored by SEBI, DHFL, RBI, CoC, Piramal, Banks - SBI
raghavendran1969
2 months ago
Not a good move as per FD holders
johnwick19810
2 months ago
Not a single large media channel is carrying this news or creating debates etc.. all bogus news channels.
Sad to see senior citizens getting only such low final settlements.. when piramals will get a nice large profit .. so will banks who will just write off public's money
xismalldickxismallcock
Replied to johnwick19810 comment 2 months ago
Happens all the time you could have learnt from sub prime 2008 crisis when rating agencies give AAA ratings then suddenly change to risky , all are part of it, either your money keep it with you or go for low risk, low return investments by your own research not some friendly smiley sweet "financial advisor" Or relative or neighbour or so called friend. Seen my family lose money since 1990 in uti us 64, dummy companies shares on bse, even in, profit making companies like nirmaan whose promoter does not want to share the profits and delists and gives an pittance to investors.
sivakumar123.n
2 months ago
Govt, NHB, rbi, nclt - u all are thieves. U have looted our hard earned money. Fear God !!
vipulkdamani
Replied to sivakumar123.n comment 2 months ago
Very rightly said. Including Rating agencies and SEBI, RBI all are corrupt bodies.
cbsuvarna
Replied to vipulkdamani comment 2 months ago
All these agencies have got their commission to cheat us. Curse them!!
ajaykumarlal67
2 months ago
Small investors, wether secured or FD holders, are not institutions who can be clubbed together. Hair cuts are not meant for households who are dependent on the interest received for survival. This is totally absurd and will lead to ending of lives for many. If Sahara was given a chance, why not DHFL?
xismalldickxismallcock
Replied to ajaykumarlal67 comment 2 months ago
Sorry but that's the way it is, rich get richer by our stupidity
iroop4u
2 months ago
Small investors, wether secured or FD holders, are not institutions who can be clubbed together. Hair cuts are not meant for households who are dependent on the interest received for survival. This is totally absurd and will lead to ending of lives for many. If Sahara was given a chance, why not DHFL?
abanlawyer9
2 months ago
When we were requested to submit our bank details, at that time, we were informed we will get full amount plus interest lost during the period. But suddenly without any information our Bank is credited with only 23 percent. If these so called affluent industrialists with crores and crores of investments cannot pay back to us, how can we, the middle class afford to run our homes without any pay back from them. Before taking up the new venture all details should have been worked out for repayment to NCD and poor FD holders, for whom their investments are their lifetime of hard earnings. Should we just let go of our future security and our lifetime savings?. The new management is requested to please pay back our balance amount as there is no way to earn it back as we are now retired and there is no other way to earn back our lost amounts. These industrialists will recover more than they have invested in no time, but what about us?. Why are we made to beg for our own hard earned lifetime money which we had kept with the corporate house with all our trust. It's no fault of ours if the previous DHFL Management had some problems, why should we suffer for their fault? Our humble request to the new Management to please pay back our balance 80 percent, as managing day to day expenses is becoming increasingly difficult as interests are getting lower and lower and inflation is sky rocketing.
Prabakaran
2 months ago
Not sure if it was ever communicated that FD holders who did not vote during the resolution process will be considered as 'dissenting' and they will be paid only 23.08%. Shocking that the govt which interferes in every aspect of society is a mute spectator to the injustice being met out to common people.
kataria.harish
2 months ago
Catalyst Trusteeship is also . They are supposed to pay full amount to secure d NCDs but they have paid only 46 %.
Since they are the underwriters .
rinspin3
2 months ago
I had invested my hard earned money cash in DHFL for almost a decade , because of the rating given by crisil now I understand this alll myth because we have hardly received 23 percent which is nothing but cheating and looting by done in the name of resolution , there should some justice to small investors but nobody is bothered about their plight. This is really sad what is going on in corrupt India, frauds are being supported and encouraged to steal n become rich that is the outcome because many more such incidents will happen in future so people need to exercise caution.
xismalldickxismallcock
Replied to rinspin3 comment 2 months ago
Yes you could have learnt from 2008 sub prime crisis you could have seen rating agencies give AAA ratings happens all the time all throughout the world
sunilkhokale
2 months ago
My FD were my savings for my son's marriage & my old age as well as for my wife. Now everything is in disarray. The shocking thing is even income tax has been paid to our claim amounts for the money that we never got.
gopalmishra_2002
2 months ago
Planned loot of FD holders. As a retired senior citizen I m disappointed very much.
Jaye to Jaye kahan .Samjhega Kaun yahan
mklgpt1
2 months ago
DHFL resolution process has ruined the FD holders..My FD was for the purpose of my daughter's marriage. But they have returned only 23%. Can RBI/Govt/Piramal tell us what should we do now? Our hard earned was looted..
a.kapil83
2 months ago
We FD HOLDERS DEMAND 100% REFUND WITH INTEREST WHY WE RECEIVED ONLY 23%
WHO DECIDED THIS ?

THIS IS OUR HARD EARNED MONEY We will fight till end
bonymohali
2 months ago
Clear loot of common man hard earned money being done by Govt Wadhawans RBI SEBI & PIRAMAL .Retail invester should get principal back
pr1987
2 months ago
in both the cases there is no simple communication on what is the claim and what is the likely settlement. in the case of DSK most of the resolution communications have to approve for the Fees of the ICRP professional.
As holders of secured NCDs isn't there any identification of the assets ? to which these security is linked to?
Painful for all the NCD holders
rajendrakakhandki
2 months ago
They have illogically applied same yardstics to institutional lenders and retail investors in NCDs. This has resulted into abnormally low repayment to retails investors in catagory 2 & 3.This may be considered for suitable review.
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...
Free Helpline
Legal Credit
Feedback