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DHFL- Insolvency process timeline may be extended to June 30

The date of closure of the Corporate Insolvency Resolution Process (CIRP) of the financially distressed real estate project, Dewan Housing Finance Corporation Limited (DHFL) is expected to be extended to June 30th, 2020 from May 31st, 2020. This will give more time to the investors (resolution applicants) who have participated in the Expression of Interest (EOI) to submit their resolution plans. With the new development, the sale of DHFL may be possible only by August, 2020 or September, 2020. It can be thus concluded that the time-period for the Corporate Insolvency Resolution Process (CIRP) for DHFL may be extended to June 30th, 2020 to give more time to its investors/ resolution applicants to submit their resolution plans.  With the extension of the timeline of the insolvency process of DHFL, the sale of the real estate project is possible to be only by August, 2020 or September, 2020.

 

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