Home / HEADLINES / INDIA / DHFL pays some investor dues

DHFL pays some investor dues

DHFL paid 100.2 million rupees ($1.44 million) in interest on four non-convertible debentures (NCD) and principal of 350 million rupees on one of them, it said in a filing on Monday.

The payment comes after two major credit ratings agencies – ICRA, an affiliate of Moody’s, and Standard & Poor’s local unit Crisil – last week categorised the company’s commercial paper at default levels for missing bond payments.

The shadow lender’s shares have plunged nearly 20% since then, but closed up 7.5% on Monday. India’s shadow banking sector has been thrown into disarray after a series of defaults at large lender Infrastructure Leasing and Financial Services last year triggered fears about a contagion in the financial sector.

Please share this news