DHFL SCAM AT A GLANCE: FROM THE PERSPECTIVES OF AILING FD HOLDERS

History is repeating itself! Nazi Germany went through a series of economic bankruptcies, state-encouraged privatization moves, just as India (ruled by Fascist Hindutvavadis) is presently undergoing multiple bankruptcies. Save the DHFL FD Holders!

Once in a Blue Moon Academia

DHFL SCAM AT A GLANCE: FROM THE PERSPECTIVES OF AILING FD HOLDERS

COMPILED BY DEBAPRASAD BANDYOPADHYAY(TO BE UPDATED)

I. HISTORY OF THE DHFL SCAM

Dewan Housing Finance Corporation Ltd.(henceforth DHFL, established on 11 April 1984) is a deposit-taking housing finance company, headquartered inMumbaiwith branches in major cities acrossIndia. As of June 2018, DHFL has 209 branches and 113 service centres. It also has a representative office inLondon.

DHFL was not an unregulated entity. The investors including FD holders relied upon audited financial results, ‘AAA’ credit ratings and regulatory bodies like SEBI, National Housing Bank. DHFL, with their businesses spread across various segments of financial services, were subject to different regulators, including the Reserve Bank of India, Securities and Exchange Board of India, National Housing Bank and the Insurance Regulatory and Development Authority of India defaulted on its debt repayment due to their balance sheets were hiding asset-liability mismatch…

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