DHFL logs Q4 net profit of Rs 96.75 cr
By IANS |
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DHFL. . Image Source: IANS News
Mumbai, June 6 : Dewan Housing Finance Corporation Ltd (DHFL) on Sunday reported a consolidated net profit of Rs 96.75 crore for the January-March quarter.
During the same quarter of FY2019-20, the bankrupt NBFC had posted a consolidated net loss of Rs 7,507.01 crore.
Its total revenue from operations during the fourth quarter of FY21 was Rs 2,034.53 crore.
For the financial year 2020-21, DHFL reported a consolidated net loss of Rs 15,051.17 crore.
In a regulatory filing, the NBFC said: The company has not made any provision for interest on borrowings amounting to Rs 1,91,213 lakh and Rs 7,65,155 lakh for the quarter and year ended on March 31, 2021, respectively, in view of the company s current Corporate Insolvency Resolution Process (CIRP).
Bad loans and personal guarantees
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The Insolvency & Bankruptcy Code marks one of the most significant changes made to commercial laws - Nuthawut Somsuk
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The SC verdict has brought relief to creditors waging long battles against bad loans
On May 21, 2021, the Supreme Court dismissed pleas on 75 petitions challenging the notification including that on Anil Ambani, Sanjay Singhal, Venugopal Dhoot, Kapil Wadhawan and 45 other industrialists. (The Supreme Court had declared the notification issued by the Union government under Insolvency and Bankruptcy Code, on November 15, 2019 as legal and valid).
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the direction of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm s erstwhile promoter Kapil Wadhawan.
A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT).
On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
Meanwhile, the appellate tribunal also clarified that its order should not come in the way for NCLT to decide the approval of the plan selected by the Committee of Creditors (CoC), the lawyer added.