The NewsYet – DHFL pays ₹45 crore as payment on interest and principal amount for NCDs – Livemint
The NewsYet –
Crisis-hit Dewan Housing Finance Ltd (DHFL) on Monday said in a regulatory filing that it paid ₹45 crore as payment on interest and prinipal amount for Non-Convertible Debentures (NCDs) that were due.
“We hereby confirm and certify under Regulation 57(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that the company has made payment of interest and principal amount as detailed hereunder in respect of the following Non-Convertible debentures issued on private placement basis,” stated the filing.
DHFL, the third-largest pure-play mortgage lender, had the rating downgraded on its ₹850 crore worth commercial papers (CPs) to default grade by Crisil and ICRA due to delay in meeting its obligations.
“The company is taking all necessary steps and shall ensure the payment of the due interest within the cure period of 7 days as prescribed under the respective trust deeds pertaining to the said NCDs,” it said in a regulatory filing on Friday.
The company’s shares soared as much as 10% during the early morning trade on Monday on news reports that the company cleared the dues of its retail investors.