Bankrupt DHFL is the first financial services firm to be put through a formal debt resolution process. A year later, the case is an indictment of the regulator.
Today, as you read this, a committee of experts is expected to decide on the final outcome of bids to buy out India's second-largest mortgage company, Dewan Housing Finance Ltd. If a resolution does take place for bankrupt DHFL, it will be a culmination of six rounds of frenetic bidding, several back-and-forths and a 14-month effort that will ultimately give lenders little over a third of what is due to them over the next decade.
It will no doubt be touted as the best deal under the circumstances, reasons for which will include problems associated with the pandemic-induced slackness.
The …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com