In November 2019, the Reserve Bank had referred DHFL, the third-largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings. It was the first finance company to be referred to NCLT by the RBI using special powers under Section 227 of the IBC.
For the quarter endeng December 2020, DHFL
had posted a a consolidated net loss of Rs 13,095.38 crore as against a net profit of Rs 934.31 crore in the year ago quarter. On a quarterly basis, the company witnessed widening of net loss from Rs 2,122.65 crore in the second quarter ended September 2020.
So far in the calendar year 2021, the stock has tumbled 36.6 per cent on the BSE, as against a 7 per cent rise in the benchmark S&P BSE Sensex.
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