Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

RBI supersedes DHFL board on payment defaults, governance concerns

Date: 21-11-2019
Subject: RBI supersedes DHFL board on payment defaults, governance concerns
The Reserve Bank of India (RBI) has superseded the board of Dewan Housing Finance (DHFL) due to payment defaults and governance concerns.

"In exercise of the powers conferred under Section 45-IE (I) of the Reserve Bank of India Act, 1934, the Reserve Bank has today superseded the Board of Directors of Dewan Housing Finance Corporation (DHFL) owing to governance concerns and defaults by DHFL in meeting various payment obligations," RBI said in a statement.
R Subramaniakumar, former MD and CEO of Indian Overseas Bank has been appointed as the Administrator under Section 45-IE (2) of the Act.

"The Reserve Bank also intends to shortly initiate the process of resolution of the company under the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 and would also apply to the NCLT for appointing the Administrator as the Insolvency Resolution Professional," RBI said.

The RBI Act had been amended in the last Budget to empower the regulator to appoint an administrator.

Source: moneycontrol.com

Infodrive India Pvt Ltd

Delhi :
  F-19, Pocket F, Okhla Phase-I
      Okhla Industrial Area

      New Delhi- 110020
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2020 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help