Justice For The DHFL Fixed Deposit Holders: a letter to the President of India (06/12/2020)

Justice for the DHFL FD Holders! Down with those who are involved in the DHFL-COC Scam!

Once in a Blue Moon Academia

Shri Ram Nath Kovind
Hon’ble President of India
Rashtrapati Bhawan,
New Delhi – 110004

Respected Sir,

Subject: Sufferings of Fixed Deposit (FD) holders due to IBC Act in the Resolution Process of DHFL

We are general public depositors who had invested our savings in Fixed Deposits (FD) of DHFL, a Housing Finance NBFC regulated by the National Housing Bank (NHB). Many of us are Senior Citizens who have invested life savings in these FDs and rely on interest income for the basic financial needs. DHFL’s FD scheme had been continuously rated “AAA” by reputed national rating agencies.

In November 2019, DHFL was suddenly put under IBC by giving special powers to RBI. DHFL has since been run by an Administrator appointed by the RBI. Repayments to FD holders have been stopped and FD holders have been clubbed together with banks and other big lenders in the resolution process by…

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