Tata MF moves NCLT to recover dues from DHFL
Tata Mutual Fund has moved the National Company Law Tribunal (NCLT) to recover dues worth over Rs 100 crore from Dewan Housing Finance Corporation (DHFL). With this, the Tata firm joins several of its peers in going to court against the crippled mortgage lender.
Tata MF has sought redemption of over Rs 100-crore debentures, which includes interest, from DHFL. The fund house has also sought NCLT’s direction with regard to disclosure of DHFL’s assets and liabilities. NCLT has granted DHFL time to file its reply before the next hearing on November 14.
Nippon India (formerly Reliance MF), Edelweiss, Kotak and Axis too have moved the Bombay high court against DHFL over dues. The court had restrained DHFL from making payments to any unsecured creditors until its directions.